NCDRC ordered a Pune based builder – Marvel Omega to refund Rs 8.14 crores along with 10% annual interest to the buyer.

The government has shown grave concern regarding pendency in the real estate sector and announced a government-funded stress fund for unfinished projects.

As a aggrieved Homebuyer if builder has filed an appeal against you than don’t feel agitated rather take this opportunity to get the money through the means of RERA Tribunal using Section-43 (5).

Chandigarh consumer commission coming to the rescue of the homebuyers has been able to restore its faith among homebuyers.

Flipkart approached the Karnataka High Court for a stay on the CIRP process initiated by the NCLT. Further,  the Karnataka High Court stayed the CIRP process.

To, start with the most common problem that as homebuyers you might have is delayed possession or no construction in the project.

Money matters are a sensitive issue for everyone involved in the business as nobody would want to leave or lose their hard-earned money like that.

As compared to RERA in other states Karnataka RERA has been disappointing since the day it got enacted. Builders and homebuyers both remained unhappy for many reasons.

As a developing country, India had huge prospects for growth in the real estate sector, seeing this many people invested in the sector in good faith.

1st of kind order from Hon’ble RERA, which is unique and real justice in real estate history. In the said case, the uncompleted project was handed over to the association to construct it through the pooling of money

Real estate (regulation & development) act, 2016 (RERA) came as a sigh of relief for the homebuyers (Financial creditors), providing them with adequate relief unlike available conventional remedies under civil and consumer laws

If the project isn’t RERA Registered you can approach the concerned RERA Authority for initiating a complaint against the concerned developer for non-registration.

If the builder is delaying in giving possession or not giving the property as per the agreements there are some effective legal remedies for the aggrieved homebuyers under the law.

This article is all about the insolvency process which has been initiated which may include filing of claims, acceptance of claims, making of the committee of creditors and resolution plan

The quality certificate as under Form 2A and by this the entire process will become transparent and everyone will be assured of the quality of the projects.