The banks are aware of the builder’s liability to make all the payments to the bank according to the signed agreement among the bank, builder, and buyer. Therefore, the banks cannot chase or harass the buyers for payment of due amounts under the SARFASI Act, 2002.

Most residents are living in individual societies, which are not embraced with shopping complexes and health care facilities.

Builders requested that Refund and penal orders to be set aside or be reviewed due to the COVID-19 outbreak financial markets are seeing an all-time low.

GujRERA authority has extended benefit to more than 80% of the ongoing projects across the state which are likely to be completed in the next four years. 

The Hon’ble Adjudicating Officer took no time and in the short period of a span, gave relief to several homebuyers by granting not only refund but also compensation.

RERA Authorities being regulators are trying to help the Developers in one form or the other. Maharashtra & Karnataka-RERA have already given a three-month extension to registered projects.

Karnataka RERA has given a deadline extension of three months to all registered ongoing Real Estate Projects across the State.

The novel Coronavirus outbreak has worsened the liquidity crisis and worsened the already slowdown that has been going in the Real Estate Sector.

Haryana RERA authority has recently passed a detailed order laying down clear principles with regard to increase in super area. The authority gave leverage of 5% to 10% increase in super area to builders but specifically mentioned that an increase of 20% in super area is a huge increase thus, it does not appear to be justified.

The HRERA issued directions that promoters should get their accounts audited within six months after the end of every financial year.

The RERA Authority issued warrants of attachment in respect of Rs 91.41 lakh to four bank accounts of M/s Supertech for deduction of the amount.

The Karnataka RERA authority has been unable to help the aggrieved homebuyers due to lack of support from deputy commissioners, so the authority forced to write to the Revenue Department that Deputy Commissioners are not honoring the judgments to help home-buyers. 

The outbreak of COVID-19 has adversely affected the real estate sector. This current situation gave massive disappointment and distress to the homebuyers

MahaRERA Appellate Tribunal gave its much-awaited order in writing, in favor of home buyers by setting aside the earlier order by MahaRERA that Section 12 of RERA does not act retrospectively.

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.