Explained why and how MahaRERA should implement and use Suo Motu Power and speculate about the effects of Suo Motu Powers on the homebuyers.
Central Govt. passed an ordinance by which they brought in a cap on number of homebuyers approaching the NCLT under Section-7 of the IBC code, 2016.
MOFA belongs to such class of such legislation that were more regulatory in nature, instead RERA creates an environment for the functioning and development of real estate sector.
The new trends of the Real Estate sector show a market that has learnt from its errors and is confident to make an increasing comeback with a focus of consumer welfare and diversification of market.
A growing number of Builders, Developers, Promoters and stakeholders in the Real Estate Industry are backing RERA to be the first applicable redressal mechanism to homebuyers.
An analysis report regarding the MahaRERA authority has passed an order holding that the industrial units are not covered under RERA Act.
Hon’ble P&H High Court has for now stayed the said amendment from operation and the matter is now listed to be taken up in January 2020 for further orders.
Real sector is backbone of economy; hence Government is doing every best either in way to introduce new laws or new AIF funds. We advice to make best of this opportunity.
The HRERA once more in a distinctive and groundbreaking feat attached the properties of the Developer to secure funds to ensure the completion of the Greenopolis Project.
As a buyer if you aware that a project should be registered then you can move a plain application to that effect before the RERA Authority and they shall take a suomoto cognizance over the same.