Execution- Yet another hurdle for Homebuyers
In UP RERA, a separate department has now been made to look into the matters where the execution of the order has not been done.
Search Results for: execution of the RERA orders
2 years of RERA Implementation- A Practical Experience
Centrik has tracked and been with RERA since its 1st day of implementation. During these 2 years of journey, we have resolved more than 6700 assignment relating to RERA and Insolvency laws on different issues.
Can homebuyer approach NCLT before RERA?
RERA has been specifically setup to regulate the real estate sector therefore one must approach RERA before approaching NCLT.
MahaRERA issues notices for the recovery of money
Under Section 40 (1) of the RERA Act 2016, the authority can issue recovery warrants against developer who failed to comply with its order to refund home buyers.
RERA Orders remain on Paper
The authorities of most of the states have passed numerous orders but none of them have been executed in reality. The orders remain on paper and developer/ promoters have not complied the order.
RC issued by RERA leads to arrest of builders
An RC was issued for recovering 3.04 crores, based on the same a 15 days’ notice was issued to clear the dues post which due to non-compliance builders were arrested.
MAHARERA: Auction of the Property to recover the Money of allottees’
Maha-RERA issued a revenue recovery warrant and sent it to the Thane collector. And was forward to the Tehsildar of the area for property sealing and auctioning to recover the money.
Balancing IBC and RERA- For protection of homebuyers’ interests
Approaching RERA has been rightly helpful for the homebuyers who have not received the possession or refund of the amount paid by them to the builders or developers.
The sorry state of execution at Gurugram Bench of HRERA
Gurugram bench of HRERA (Haryana RERA) fails to implement execution process despite being functional for close to one year.
RERA: A hope of a revival for the Real Estate sector
Real estate across the country is already witnessing signs of revival. In the last couple of quarters in this financial year, sales have witnessed more than 20% improvement over last year.
RERA ordered refund even if there is a dispute between builder and land owner
The RERA ordered the builder to refund the entire principal amount along with interest of 15% per annum to be compounded quarterly from the dates of deposit to the date of refund should be refunded in three instalments by the company
Execution process under RERA recovery of arrears as land revenue
The concerned authority will issue a recovery certificate which is mandated under the land revenue Act and states the amount recoverable and the date it became due.
Delay in Possession? How to Seek refund under RERA
The delay in projects got converted from months to years shattering the dream of owning a home of many homebuyers. A detailed article on how to get refund from the builders under RERA.
What to do if the RERA order is not being complied with
RERA Authority order is not being complied with by the party or if we are precise, the builder is not paying the amount ordered by authority.
RERA: Conceptualization of Transparency & Efficiency in Real Estate Sector
A true picture of RERA shows that RERA is an all – embracing protector and promoter of the real estate sector including the developers and real estate agents.
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