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.
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.
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 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.
One of a kind orders that transformed a stalled project into a Rehabilitation project under Section 8 of the RERA.
IBC undoubtedly appears to be a better alternative in comparison to RERA. IBC offers a time bound resolution of the grievance of the homebuyers.
There would be multiple reasons for such projects however the maximums projects are delayed or stalled due to diversion of money or unprofessional decisions of the builder.
Big relief for the homebuyers of M/S Bombay Dyeing and Manufacturing Co Ltd. the MAHARERA Tribunal has ruled in the favour of the homebuyers asking the developer to refund the paid amount.
New Petitions under section 7 of the Insolvency and Bankruptcy Code will mandatory be required to file default record from the Information Utility as per NCLT directed.
The Finance Minister disclosed that the stimulus package is a 15 step measure, the Tranche 2 announcement on 13th May 2020 disclosed 9 steps so far and that further steps to actualize the goals of AatmaNirbhar Bharat
Continuous demands of the project developers for extension of RERA registration have posed a major question of marginalizing the interest of the Homebuyers.
GujRERA authority has extended benefit to more than 80% of the ongoing projects across the state which are likely to be completed in the next four years.
Under this forum, the aim is for the home buyers, builders or real estate agents to get their grievances amicably resolved before filing a complaint with the RERA authority.
Karnataka RERA has given a deadline extension of three months to all registered ongoing Real Estate Projects across the State.
Due to nation wide lockdown MahaRERA extended the period of validity for registration of all registered Real Estate Projects by 3 Months.
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