There have been few instances where the project is stalled and the association of the allottees have been handed over the project to complete the remaining construction of the project.

If there is any breach in the terms and conditions of the builder-buyer agreement or delay in possession of the property then a home-buyer can directly approach to the RERA Authority to avail the legal recourse.

As per RERA Law the promoter shall not transfer the project to the third party without obtaining the prior written consent from two-third of the allottees and prior written approval from the concerned RERA Authority.

One of the burning issues since the implementation of the RERA act is, the overriding effect of the RERA Act over the builder-buyer agreement.

There are such no. of cases wherein Builder does not have OC but they are offering the possession to the Home-buyers; even knowing the fact that this is an illegal act.

What if the project is stalled and builders do not have sufficient funds to complete the project. In such cases question arises that does RERA authorities have the power to take over the project?

The officials of the UPRERA Authority have decided not to encourage refund if the project is not stalled and have the potential of getting finished and delivered.

The officials feel that there is a need of having a few more powers which will enable the RERA Authority to issue certain directions.

The Builder is not mandatory but it is the sole responsibility of the builder to enable the formation of the association and the election of the association should be lawful and transparent.

The fees to be paid by the promoter/builder in case of registration of the Real Estate project with the RERA Authority which is a mandate under Section-3 of the Act.

A welcome move by the HRERA authority as it creates a balance between both the parties and is justifies for the aggrieved buyers who had to in worst case of scenario had to give up their full earnest money.

RERA has been specifically setup to regulate the real estate sector therefore one must approach RERA before approaching NCLT.

Under Section 40 (1) of the RERA Act 2016, the authority can issue recovery warrants against developer who failed to comply with its order to refund home buyers.

It’s been around 2 years of implementation of the RERA Act, various developers have failed to get their projects to register with their respective RERA Authorities.

An application filed by the homebuyers under section 7 of IBC shall be maintainable. Therefore the homebuyers are advised to approach NCLT under IBC to recover their stuck money in a time-bound manner.