Search Results for: COVID-19 pandemic

Builders seek relief on finance from Ministry of Housing Affairs

The novel Coronavirus outbreak has worsened the liquidity crisis and worsened the already slowdown that has been going in the Real Estate Sector.

BAIL FOR APPREHENSION OF ARREST

In accordance with Section 438 of the Criminal Procedure Code, bail must be provided before an arrest can be made. A person may apply for bail before the session’s court of the High Court if they anticipate being detained for an offense for which there is no possibility of bail.

Analysis of the Pre-Packaged Insolvency Resolution Process and its advantages as compared to the CIRP

The Pre-Packaged Insolvency Resolution Process (PPIRP) mechanism have helped the MSMEs to a great extent in order to revive their operations as a going concern.

Treatment of MSME Insolvency under IBC

The COVID-19 crisis has caused distress and failure in the MSME sector. The insolvency law since its enactment in 2016 has been amended several times in order to protect the interest of MSMEs as well as the future and growth of the Country.

UP RERA Extend Delivery Date by Nine Months

UP RERA, considering the surge of Covid-19 and restrictions imposed on construction due to an increase in pollution, has extended the registration of the projects, by default, for which no promoter has to file an application before the Authority.

How effective is RERA?

The main purpose of RERA was to enhance builder buyer transparency along with creating a strong adjudicating mechanism to resolve all the disputes in concern with the real estate sector.

Swift Procedure of RERA

Looking upon the pendency of cases, people have to wait for years to get relief even after having all the merits of the case. Let’s Understand What is RERA and RERA procedure.

RERA Authorities Go Virtual

Once again the pandemic is hitting us hard in its second wave leaving no other option but to once again choose the path of virtual courts. So the decision of the RERA Authorities to go virtual is just to settle the disputes without any further delay and not to let the pandemic hamper our justice system.

Relief for Homebuyers: RBI pushes for home loan restructuring

Restructuring plan is a ray of hope for the borrowers. As the borrowers are already being stretched between the loan repayment and pandemic situation.

Good News for Builders- SBICAP Lowers IRR to 12 Percent in Stress Funds for Stalled Housing Projects

In order to help the COVID-19 hit real estate SBICAPS has announced lowering the internal rate of return (IRR) from 15 percent to 12 percent. That the move has been welcomed by developers all over India.

Big Relief for Developers- Government issues direction for relaxing RERA Norms

Ministry of Housing and Urban Development issues notification asking RERA Authorities across India to grant extension to Real Estate Projects for a period of 6 months and maximum to a period of 9 months.

Stuck with a stalled or unfinished project-What is the way Forward?

The UPRERA allowed the homebuyer’s association of a project to take charge of the completion of four stuck projects. Discussions are still going on with the original builder Jaypee Associates to come on board as contractor.

MahaRERA invokes Force Majure- How and in What way it is Wrong for the Homebuyers?

Such one-sided notification by MahaRERA is a big black mark on the rights of the homebuyers. The notification provided all sorts of protection to developers/builders in terms of payment of interest and delivery of units but it nowhere caters to the difficulties faced by the homebuyers.

Completion Date of Real Estate Projects Extended- What does it mean for Homebuyers?

The homebuyers who were to get their homes anytime soon have to now at least wait for another period of 6 months or maybe 9 after the extension of real estate projects’ completion date.