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.
Under this forum, the aim is for the home buyers, builders or real estate agents to get their grievances amicably resolved before filing a complaint with the RERA authority.
The Hon’ble Adjudicating Officer took no time and in the short period of a span, gave relief to several homebuyers by granting not only refund but also compensation.
Philanthropic step to waive off the interest over the outstanding amount on pending payments from homebuyers and allow something called as interest holiday by the Parsvnath Developers along with its associate companies.
RERA Authorities being regulators are trying to help the Developers in one form or the other. Maharashtra & Karnataka-RERA have already given a three-month extension to registered projects.
Karnataka RERA has given a deadline extension of three months to all registered ongoing Real Estate Projects across the State.
Out of the total 45,000 houses in the stalled projects of Amrapali Group, the process of completion of about 40000 housing units has begun. A huge relief to the homebuyers.
Due to COVID-19 the most affected have been the real estate industry as both the demand as well as the supply side has been adversely affected.
Due to nation wide lockdown MahaRERA extended the period of validity for registration of all registered Real Estate Projects by 3 Months.
Period of two years is kept keeping in mind the fact that such reduction will give life to the real estate and people would show more interest in immovable property.