Kerala RERA was formally launched on January 1, 2020. The Authority has also fixed a three-month period for developers to register all ongoing and upcoming projects.
Bihar RERA authority has taken Suo-Motu cognizance against five promoters and builders with the highest number of complaints.
The government is presently mooting schemes to unburden NBFCs of stressed financial assets such as by creating a stressed asset fund to buy out the stressed financial assets.
The government of Madhya Pradesh had amended RERA state rules for the appointment and issued a gazette notification regarding the same.
The latest government data shows that how IBC is a huge change brought by the recent government in terms of a speedy redressal for the aggrieved homebuyers.
If the builder is delaying in giving possession or not giving the property as per the agreements there are some effective legal remedies for the aggrieved homebuyers under the law.
The UP-RERA Authority has ordered to revoke the registration of these existing developers whose projects have been standing-out for more than one year.
The hope of Ramkrishna Shard Parsodkar and his wife was shattered in to pieces when the builder failed to give possession after years of booking. That after being tormented at the hands of the builder, the couple was forced to approach the highest Consumer court of the county.