Legel remedies to get refund on stalled projects: An Analysis
Section 18(1) of the RERA Act provides for ‘Return of amount and compensation’ which is the base for complaint under section 31 seeking refund, interest and compensation.
Search Results for: delay in delivery of possession
Reply to Legal Notice under Section 13(2) of SARFAESI Act, 2002 Pertaining to Subvention Scheme
The banks are aware of the builder’s liability to make all the payments to the bank according to the signed agreement among the bank, builder, and buyer. Therefore, the banks cannot chase or harass the buyers for payment of due amounts under the SARFASI Act, 2002.
Legal solutions when real estate project is stuck
Since the real estate projects are the turkey projects and take multiple years to get it completed, a normal delay can be accepted. Any delay of more than 1 year from promised date of possession is regarded as ‘extra-ordinary delay’.
COMMITTEE OF CREDITORS (CoC) under IBC : FROM BEGINNING TO END
The Committee of Creditors (CoC) has complete wisdom and right to decide the fate of the company under CIRP. Lets understand all about Committee of Creditors under Insolvency Laws
Section 7 of the IBC is covered by Section 14 of the Limitation Act
Hon’ble Supreme Court has held that in an application under Section 7 of the Insolvency and Bankruptcy Code, the applicant can claim the benefit of Section 14 of the Limitation Act, in respect of proceedings under the SARFAESI Act.
Villagers take over Today Homes Canary Greens project in Gurugram
A group of villagers, from whom Today Homes got land, took physical possession of the project and put up a notice at the gate of the nearly fully booked but incomplete housing society.
Debt Restructuring a method of revival of the Real Estate Sector
The UP-RERA has now requested the RBI to consider restructuring the loans taken by the builders for the completion of real estate projects.
What are Rehabilitation Scheme for Stalled Projects under UP RERA
One of a kind orders that transformed a stalled project into a Rehabilitation project under Section 8 of the RERA.
Best Legal remedy for Stalled Real Estate Project – A Comparison
More than 5 Lakh homebuyers are struck in the projects which are either stalled for multiple years or has been abandoned. The builder either don’t have money or intention to start construction on such products.
IBC Ordinance – A Bargain for both Debtors and Creditors
The rationale of the Ordinance is certainly to ensure that Insolvency and Bankruptcy Code, 2016 lives up to its preamble that is – maximization of value of assets. The newly inserted Section 10A certainly brings about a balance of interest between creditors and debtors.
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.
HRERA-GURUGRAM- Relief for Homebuyers as Adjudicating Officer grants Refund
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.
COVID-19 Crisis-The government should protect the interest of 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.
COVID19 Emergency-Government Should Protect the Interest of the Real Estate Project Developers
COVID19 Emergency-The Indian Economy is already facing a slowdown in growth but this situation to get worse if the countermeasure is not implemented sooner.
Time to exercise Suo Motu Powers by MahaRERA– An Analysis
Explained why and how MahaRERA should implement and use Suo Motu Power and speculate about the effects of Suo Motu Powers on the homebuyers.
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