Dishonour of “Security Cheques” is not an offence. A Security Cheque is a cheque issued to a drawee as security or surety, not issued against the repayment of the loan.
Kind of strong initiative by the authority gave a ray of hope to homebuyers as their rights are more protected now than ever. The authority is taking every possible step to avoid the violation of the provisions of the RERA Act and to protect the interest of the homebuyers.
Different forums provide for different reliefs and one must be cautious enough before choosing an appropriate forum. Before choosing the appropriate forum, points to be analyzed are type of violation by the builder, what relief is prayed for, urgency, repetitive nature, financial condition of the builder, status of other projects, etc.
The Haryana State Pollution Control Board (hereinafter referred to as HSPCB) directed Rs. 45.40 crore penalty for violation of the Environment Act provisions. Additionally, the government has proceeded with criminal prosecution against delinquent builder in the environment court of Kurukshetra.
According to the provisions of the agreement, if possession is not handed over on time, the Promoter is obligated to pay or compensate the Complainant/allottee for loss of rent.
RERA registration is required for any real estate project that comes under the RERA Act’s scope. In this article, we take a closer look at the penalties for non-compliance under the RERA Act.
The Ministry of Housing and Urban Affairs published a progress report of RERA cases on May, 1 2021 which accounts to 75% of the total disposed cases in the region of Uttar Pradesh, Maharashtra and Haryana.
The Hon’ble Supreme Court in its latest judgement dated 04.05.2021 declared the West Bengal Housing Industry Regulation Act, 2017 (WBHIRA) as unconstitutional for being in conflict with central legislation such as RERA.
The Hon’ble Supreme Court’s decision is a watershed moment for homebuyers and allottees. A number of findings in the current judgment support this conclusion, including parallel remedies under RERA and the Consumer Protection Act.
NCLT and RERA have different functioning and approach to tackle cases of homebuyers, often homebuyers are confused on which remedy to choose.
Brokers and agents will have to ensure that, they are properly registered with the regulator under RERA.
Maharastra government has proposed amendment in MahaRERA act to crack down on builders who sell a single flat to multiple buyers in a significant step.
Main purpose of the Act lies in enhancing the Transparency between buyer and builder and creating a strong adjudicating system for the disputes arising in real estate sector.
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.
The IBC is favoured over the SARFAESI Act, primarily because it offers a quick solution and is also effective in reviving the company and safeguarding the interests of all stakeholders.
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