Blogs

Interest Free Maintenance Security becomes a method for the builder to misappropriate funds. Hence every association of buyers should evaluate the refund of IFMS.

Homebuyers who had taken a loan from the banks to pay for their flats in the Project, were being harassed by the banks who were forcing the homebuyers to pay their EMIs.

Kerala RERA has warned promoters, agents, firms from advertising real estate projects prior to registering the project and also issued show cause notices to few developers which had indulged in such practice.

The banks have started issuing an auction notice in respect of real estate projects where the builder has defaulted by not completing the construction of the project. Here we are sharing some remedies for the aggrieved homebuyers.

The UP-RERA has now requested the RBI to consider restructuring the loans taken by the builders for the completion of real estate projects.

By the reduction of duties to be paid at the time of registration, the real estate sector would witness the much-needed boost in demand.

One of a kind orders that transformed a stalled project into a Rehabilitation project under Section 8 of the RERA.

It is advisable to the creditors to make a plea of initiating Group Insolvency while filing an application for initiation of CIRP against a corporate debtor.

Homebuyers while filing the joint petition before NCLT under IBC laws, should chose the legal firm very carefully.

IBC undoubtedly appears to be a better alternative in comparison to RERA. IBC offers a time bound resolution of the grievance of the homebuyers.

Filing Claim under IBC- It becomes very important to understand why every creditor should file their claims?

an Insolvency Professional having all the aforementioned requirements may be chosen as An IRP for the corporate debtor. However it may have an advantage over other IRP if the person had already dealt in that specific industry being an RP/IRP.

A tug of war going on between the companies involved in the real estate sector and the homebuyers since the Insolvency and Bankruptcy Code (IBC) came in force in 2016

There are certain points which are to be taken into consideration whilst filing a petition for the homebuyers under the newly amended Section 7 of IBC.

More than 5 Lakh homebuyers are struck in the projects which are either stalled for multiple years or has been abandoned. The builder either don’t have money or intention to start construction on such products.