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.
The real estate industry, contributing 7 percent to the GDP and employing 15% of the labor force, has come to a complete standstill. Recently, MahaRERA has decided to hear urgent cases.
Continuous demands of the project developers for extension of RERA registration have posed a major question of marginalizing the interest of the Homebuyers.
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.
MahaRERA has taken an extra step to ensure completion of struck and delayed projects. MahaRERA asked all the developers to handover the project to homebuyer.
Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.
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.
Don’t keep sleeping on your rights as homebuyers because the newly implemented RERA is here to empower you and before time runs out to go grab your rights.
There has been no further clarification as to whether the home buyers are secured financial creditors or unsecured financial creditors, but in consideration of the recent developments, one thing is sure that the result will be in the interest of homebuyers only.
The RERA authorities of the Various State are not granting refund looking into the wider interest of the Real Estate Sector.
The homebuyers can file a petition against the builder or developer to commence Corporate Insolvency Process or not.
RERA or IBC- Both the laws provides with the subjective approach depending upon the facts of the case and the situation of the developer.
H-RERA: K Khandelwal, the recently designated chairperson of Gurgaon seat of Haryana Real Estate Regulatory Authority (H-RERA),
The housing and urban affairs ministry has constituted a 30-member central advisory council, which will play key role in protecting the interest of consumers
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