Central Govt. passed an ordinance by which they brought in a cap on number of homebuyers approaching the NCLT under Section-7 of the IBC code, 2016.
The NeSL was the first Information Utility service registered under the BBI Regulations, 2017 it is one of the three pillars of the IBC system.
As a buyer if you aware that a project should be registered then you can move a plain application to that effect before the RERA Authority and they shall take a suomoto cognizance over the same.
As a aggrieved Homebuyer if builder has filed an appeal against you than don’t feel agitated rather take this opportunity to get the money through the means of RERA Tribunal using Section-43 (5).
To, start with the most common problem that as homebuyers you might have is delayed possession or no construction in the project.
This order is first of its kind in the Country and this shall set an example for all other stalled projects wherein builders are in jail for years and there is no hope of construction in near future.
Don’t keep sleeping on your rights as homebuyers because the newly implemented RERA is here to empower you and before time runs out to go grab your rights.
Many builders in Noida and Greater Noida get ready to offer the possession of units to buyers despite the pendency of the Occupation Certificate.
The RERA Act under its ambit provides for the execution in the form of issuance of RC or better known as Recovery Certificate u/s 40 of RERA Act.
The Haryana government amends the Haryana Rera rules in order to bring the power of refund within the purview of Rera authority established at Panchkula and Gurgaon