Penalties under the RERA Act
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.
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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.
RERA- Safeguards to Homebuyers
The 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. An aggrieved homebuyer seeks right legal remedy after getting exploited by the builder.
Submissions of claims by homebuyers under IBC
Creditors who fails to the submit the claims with proof within 14 days can submit their claims within 90 days from the Insolvency Commencement date as per the amendment of Regulation 12(2).
Ministry of Housing and Urban Affairs: Uttar Pradesh, Maharashtra and Haryana accounts for 75% of the total disposed cases under RERA
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.
How to choose between RERA and NCDRC?
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.
Agent Registration under RERA
Brokers and agents will have to ensure that, they are properly registered with the regulator under RERA.
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.
UP-RERA has decided to issue a show-cause notice against Supertech Realtors
UP-RERA has expressed contentions to issue a show-cause notice to Supertech Realtors under Section 5 (1) of the RERA Act, 2016 to describe why the application for registration should not be refused.
RERA- The Complete Machinery
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.
Karnataka RERA lists 22 projects which have violated “Advertisement Guidelines”
Under Section 11 of the Act all the projects in the state are required to compulsorily register under RERA and this number is to be shown in every “advertisement” by the promoter.
UP-RERA directs ‘Jal’ to complete ‘Jaypee Greens Knight Court’ project with allottees support
The decision was taken on the demand made by the homebuyers of Jaypee Greens Knight Courts that the promoter completes the remaining work because a new developer may further delay the project.
HARERA Fixes 1% Brokerage on Sale/Purchase in Real Estate Sector
A decision by the authority is a fundamental step towards constraining the real estate agents from exploiting extra money from buyers and sellers. The brokerage being fixed will turn down the chances of overcharging ultimately protecting the interest of homebuyers.
Kerala RERA warns Promoters over Marketing of Unregistered Projects
Kerala RERA has warned promoters, agents, firms from advertising real estate projects prior to registering the project and also issued show cause notices to few developers which had indulged in such practice.
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.
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