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.
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.
Lok Adalat will be held online and complaints filed before the UP-RERA under Section 31 of the RERA Act in which amicable settlement is possible or a party has filed an application for settlement will be heard.
TN-RERA has recently passed an order to the builder to refund the amount with interest along with Rs. 75,000 for compensation and litigation expenses against the Developer for not providing the documents.
UP-RERA has taken this step to ensure that homebuyers’ interests are effectively protected and that the RERA Act’s provisions are followed.
The Hon’ble Supreme Court has followed the strict approach while dealing with the issue of limitation period of 45 days in filing reply for the complaint as stipulated under the Section 13(1)(a) of the Act.
Strict action has been taken as two projects of Ansal API has been de-registered by the UPRERA Authority after the promoter could not provide a satisfactory response to the notices sent by the Authority.
Hon’ble UPRERA Authority has heard more than 2400 cases post the lockdown through the means of Video Conferencing which is the new way of life for all of us.
HARERA has barred the auction of a loan-defaulting project by bank to recover damages without prior adjustment of allottees’ dues.
The IBC recognizes homebuyers under financial creditors to protect their rights even when a creditor, other than a homebuyer, invokes insolvency proceedings against the builder.
Supreme Court rules that remedies under RERA and Consumer can be pursued by a buyer and one does not bar another. The same has been done in the matter of “M/S Imperial Structures Ltd vs Anil Patni and another”.
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.
The High Court of Punjab and Haryana finally settles the dispute of granting refund under RERA. The High Court in a detailed judgment has finally decided the matter in favour of RERA Authority and has ruled that RERA Authority will have power to grant refund and possession and Adjudicating officer will only have limited power with respect to granting Compensation.
In a landmark order, the MAHARERA has gone a step ahead in safe guarding the rights of the Homebuyer’s and allowed refund when the developer could not get the Completion Certificate. This will help the buyers protect their money in cases where project is sold and developer fails to get the basic certificates for construction.
IBC undoubtedly appears to be a better alternative in comparison to RERA. IBC offers a time bound resolution of the grievance of the homebuyers.
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