The MahaRERA in three separate orders directed the CCI Projects Ltd to pay interest on delayed period of possession after the ongoing six-month moratorium due to covid-19 crisis is over.
SWAMIH Investment Fund to provide Rs. 10,000 Crore for 101 Realty Projects
SBICAP Ventures has cleared applications from realty developers for stressed real estate projects investment worth over Rs 10,000 crore.
A Welcome Step by UPRERA – Makes way for homebuyers aggrieved of Conciliation Agreement
Conciliation forum is one such mechanism to resolve the issues adeptly. But there are several cases in which a conciliation agreement has not been honored by the builders.
MahaRERA orders for Refund – Strikes down a Forfeiture clause as unjust and Deceitful
A milestone judgement by the MahaRERA Authority to ensure the development of the real estate industry by protecting the homebuyer’s interest by balancing the rights of homebuyers as well as project developers.
Relief for Homebuyers: RBI pushes for home loan restructuring
Restructuring plan is a ray of hope for the borrowers. As the borrowers are already being stretched between the loan repayment and pandemic situation.
Registration of default with NESL not mandatory
The NCLT Kolkata Bench imposed a mandatory condition on all the financial creditors to file information of their record of default with the National E-Governance Services Ltd. (NESL).
Compliance of Recovery Certificate (RC) issued by RERA in Uttar Pradesh
An allottee can write a representation addressed to the DM explaining his grievance and praying for the compliance of the RC issued by the RERA within a specified period of time.
Relief for Homebuyers- NBCC to deliver Amrapali flats from August
NBCC took over the project in July on the SC orders after a petition by homebuyers following the Amrapali Group’s failure to deliver more than 30,000 flats in 15 projects. According to NBCC they will hand over at least 150-200 flats every month from august.
Supreme Court takes matter into its own hands in Jaypee Infratech Case
The SC has already issued notice and sought a reply from Jaiprakash Associates for the same, due to be heard on 17th October, 2020. The apex court took matters into its own hands and ordered for transfer of cases.
Haryana government to introduce ordinance for preventing fraud in registry of land
Haryana gvernment is going to bring an ordinance to amend the Haryana Development and Regulation of Urban Areas Act, 1975 for preventing fraud in registry of land.
REVERSE INSOLVENCY – GOOD FOR ALL (HOMEBUYERS & BUILDER)
Reverse Insolvency Under IBC laws, seems best solution for struck real estate projects and Reverse Insolvency concept is kind good for both homebuyer and builder
Relief for Creditors – NCLAT paves way for extending the period of limitation
The limitation period cannot be extended, given the statutory provision under Section 19 of the Limitation Act as the Corporate Debtor has made part payment after expiration of the period of limitation.
Relief for Homebuyers- Jammu & Kashmir RERA Notifies RERA Rules
RERA in J&K will secure the interest of home buyers as well as put an end to the malpractices by the agents or builders improvising the condition of the real estate sector.
How IBC can help Homebuyers to revive stuck projects
There has been no or little knowledge about the functioning of IBC but let us assure you that we have done many matters under IBC and have ended up getting justice for all our home-buyers clients. It is quick, efficient and result oriented.
Implications of cheque bounce under Insolvency Laws (IBC)
Cheque bouncing is also the default in making payment of debt, and petition under IBC laws may be admitted
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