MAHARERA keeping up with the spirit of the Act recently has passed an order asking the builder to pay a sum of Rs.1.5 Lakh as penalty to the RERA authority for not registering the sale agreement.
The high court upheld the decision of the Appellate tribunal by directing the builder to deposit the 50% of the refund amount as ordered by the authority in order to hear the plea.
To revive the ship the major equipment which is required will be RERA as it will soon accelerate its healing on the damage caused to the real estate sector.
The homebuyers who wish to seek refund of their amount are legally entitled to approach National Company Law Tribunal (NCLT) under IBC.
If there is no assured return plan incorporated into the builder buyer agreement entered into between the homebuyer and builder then the homebuyer had to approach RERA to seek refund.
The UPRERA asked the builders to get their sale agreements registered, which will be necessary for the home buyers to seek interest in case of a delay in granting possession by a developer.
MahaRERA had setup a Conciliation Forum for aggrieved homebuyers who can approach the forum to get their grievances solved, before lodging complaints with the MahaRERA.
The insolvency and bankruptcy code, 2016 has seen many ups and downs since the enactment but out of all the most long and debatable topic or issue concerning law was pertaining to the rights of Home buyers/Allottee under the code.
CEO, and country head, JLL India said that the selling of the completed apartment is viable if the developer has enough liquidity to complete the project.
Without occupancy certificate possession of flat is not a lawful possession and it is equivalent to a rented home which can be evacuated anytime by the discretion of State Authority.
An order passed by the supreme court in favour of the aggrieved home buyers who have been waiting to get justice against named builders of the country which is the AMRAPALI Group and UNITECH.
The IBC ordinance is the latest entry into the ring. What does it hold for homebuyers like you and me? A lot.
Complaint filed against the developer Shahaji Javir for delaying the possession for a period of 9 long years of the flat booked in Nitin Enclave at Airoli in the month of June of year 2018.
Introduction Non-banking finance companies and mortgage lenders, which control the lion’s share of developer loans, are using all the tricks in the marketing and finance trade books to help realtors still smarting from the pains inflicted by the note-ban, Rera and GST, to sell their inventory so that these lenders secure their monies. According to … Continue reading “Soaring NPAs, NBFCs and HFCs at rescue!”
The grievances of the homebuyers who have already taken the possession will be entertained by the AGRF now as the matters related to delay in possession of ongoing projects is under the purview of HRERA.
join For Updates