It took 2 years to India to moves one spot up from 36th to 35th in the global real estate sector, despite the RERA Registration Act.
In the hue and cry of registration process after the implementation of RERA many builders were unable to provide all the documents and information while getting the project registered.
RERA does not speaks about the alteration of the terms and condition of the agreement to sale but if there is any contradiction, it is understood that law will prevail.
HARERA Gurugram seems to be on a mission and they are not in a mood to give any scope to the builders where they even try to escape.
buyers only had the option to rely upon the deceiving marketing stunts of the developers which all were only endorsing the commitments and freebies which they never intent to give in reality.
The Gurugram, HRERA Authority it has recently been constituted in the month of Feb and in March it started the hearing process.
Both the IBC and RERA have the provisions where the probability for the conflict in their operations are very high.
An article about how the implementation of the RERA Act has deeply affected the recovery of the Indian Real Estate market as it is bearish for last 5 years.
The Maharashtra RERA in its ruling shed some light on the refund of booking amount as in its order the authority directed the developer to give back the booking amount.
RERA Act, 2016 was implemented last year on May 01,2017 and now it is going to complete a year and if we look at the developments since its genesis then we can infer that everything seems to be appropriately in line.