The UPRERA allowed the homebuyer’s association of a project to take charge of the completion of four stuck projects. Discussions are still going on with the original builder Jaypee Associates to come on board as contractor.
MahaRERA invokes Force Majure- How and in What way it is Wrong for the Homebuyers?
Such one-sided notification by MahaRERA is a big black mark on the rights of the homebuyers. The notification provided all sorts of protection to developers/builders in terms of payment of interest and delivery of units but it nowhere caters to the difficulties faced by the homebuyers.
Completion Date of Real Estate Projects Extended- What does it mean for Homebuyers?
The homebuyers who were to get their homes anytime soon have to now at least wait for another period of 6 months or maybe 9 after the extension of real estate projects’ completion date.
NCLT Holds Filing of Default Record Mandatory under Section 7 Applications
New Petitions under section 7 of the Insolvency and Bankruptcy Code will mandatory be required to file default record from the Information Utility as per NCLT directed.
Relief for MSMEs in Response to COVID-19, No Fresh Insolvency Proceedings for 1 Year
The Ministry of Corporate Affairs had earlier limited initiation of fresh insolvency proceedings for a period of 6 months which now stands extended to 1 year.
Finance Minister Unveils Measures for Second Tranche under Aatamnirbhar Bharat Abhiyan to Support Economy in Fight Against Covid-19
The Finance Minister disclosed that the stimulus package is a 15 step measure, the Tranche 2 announcement on 13th May 2020 disclosed 9 steps so far and that further steps to actualize the goals of AatmaNirbhar Bharat
Relief for Homebuyers- MahaRERA to list Urgent Matters for Hearing
The real estate industry, contributing 7 percent to the GDP and employing 15% of the labor force, has come to a complete standstill. Recently, MahaRERA has decided to hear urgent cases.
Insolvency Proceedings Limited to Individual Project and not other Projects of Real Estate Company: NCLAT
The NCLAT held that CIRP against Real Estate Company shall be limited to Project concerned and will not affect other projects of the developers.
Covid-19 may end up making Real Estate a sound Investment Destination
The survey certainly provides an insight into the moods of the investors. However, for the government to ensure that the real-estate sector in India gets its fair share of investment amid this pandemic.
Townships Societies will Increase: The Bright Side of COVID-19
Most residents are living in individual societies, which are not embraced with shopping complexes and health care facilities.
Extension of RERA Registration cannot deprecate Homebuyers Right
Continuous demands of the project developers for extension of RERA registration have posed a major question of marginalizing the interest of the Homebuyers.
Builders request for setting aside of Refund and Penalty Orders: Is it possible?
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.
Relief for Builders in Gujarat: RERA Authority grants Extension to Registered Projects
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.
MahaRERA Splits RERA Courts causes Controversy with Lawyers
Some of the Members of the MahaRERA Bar Association and MahaREAT have voiced criticism as the move is likely to inconvenience litigants and professionals practicing in RERA Cases.
Reliance Communications Resolution Plan filed before the NCLT
RCom burdened with over Rs 46,000 crore of debt after the failure of its asset monetisation plans with Reliance Jio in March 2019 is undergoing insolvency proceedings with its assets up for sale.
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