Insolvency and bankruptcy Law 2016, has categorised the home buyers debt as financial debt to the real estate company/builder and therefore, homebuyers can claim their dues as bank claims its debt.

MahaRERA has wide order No 8/19 dated 28th March 2019 opened up door for revocation of the registration in accordance with Section 7 & 8 of RERA Act 2016.

If some other recovery proceedings are pending or the amount of claim is disputed before other tribunal or adjudicating body that won’t empower the adjudicating authority to reject the petition.

The Hon’ble NCLAT held the validity of the demand notice sent through whatsapp messenger app wherein the blue tick on the text implies the acceptance of the communication.

According to the sources, 591 complaints and 128 applications of buyers are pending with the regulatory authority. The authority shall issue notices with respect to pending complaints about hearing.

The Authority can grant extension in non-Force Majeure condition also by recording its reasons in writing and the same cannot be done for more than one year.

After MahaRERA, UPRERA also has adopted the services of a satellite to monitor the illegal construction and dubious projects being constructed in the state.

The Apex court of the country has denied to put stay on the NCDRC’s order allowing the homebuyers of JayPee Infratech Ltd. to move against the parent company Jai Prakash and Associates for compensation and possession of their respective flats.

The Uttar Pradesh Real Estate Regulatory Authority, Greater Noida Bench had rejected the registration applications of as many as 36 builders.

If the collection from allottees in a particular month is less than the installment due to be paid to the lender, the entire amount in the escrow account reportedly goes to lenders.

RERA Act has already been functional in all cities of NCR for almost 2 years now and still, such big numbers can be seen; the question that arises is whether the courts will be able to tackle such injustice or the buyers will be left in the lurch again.

The RERA Authority has asked the banks to issue necessary directions to all the officials of the Banks to strictly comply with the provisions.

In many of the instances, the RERA Authorities receives the complaint of the projects which were handed over long ago before the RERA.

The UPRERA Authority has issued the showcase notice to one of the renowned builders over the diversion of funds.

The developer was directed by the RERA Authority to return the money of the few-flat buyers. However, the order was challenged but the builder was unable to deposit the amount required.