Search Results for: aggrieved homebuyers

Allotees are Financial Creditors : Supreme Court

Under Section 7 of the IBC, this amendment allowed the home buyer to initiate insolvency proceedings against defaulting Promoters. However, the Insolvency Amendment 2018 was challenged in the Supreme Court of India by approximately 200 realtors.

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.

Role of Bank/Financial Institutions in Real Estate Sector

The developer requires huge investments for the development of the project for which he approaches banks for financial help and a buyer approach bank to fulfilling his dream to own a house. This is how builder, buyer and the bank get connected in real estate business.

Swift Procedure of RERA

Looking upon the pendency of cases, people have to wait for years to get relief even after having all the merits of the case. Let’s Understand What is RERA and RERA procedure.

UPRERA swings into action- Clears backlog of 2400 cases vide online hearing

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.

Group Insolvency- The Future of Successful Resolution under IBC

It is advisable to the creditors to make a plea of initiating Group Insolvency while filing an application for initiation of CIRP against a corporate debtor.

Best Legal remedy for Stalled Real Estate Project – A Comparison

More than 5 Lakh homebuyers are struck in the projects which are either stalled for multiple years or has been abandoned. The builder either don’t have money or intention to start construction on such products.

Supreme Court takes matter into its own hands in Jaypee Infratech Case

The SC has already issued notice and sought a reply from Jaiprakash Associates for the same, due to be heard on 17th October, 2020. The apex court took matters into its own hands and ordered for transfer of cases.

Good News for Builders- SBICAP Lowers IRR to 12 Percent in Stress Funds for Stalled Housing Projects

In order to help the COVID-19 hit real estate SBICAPS has announced lowering the internal rate of return (IRR) from 15 percent to 12 percent. That the move has been welcomed by developers all over India.

NBCC to handover 27,223 houses of Amrapali Group soon

Out of the total 45,000 houses in the stalled projects of Amrapali Group, the process of completion of about 40000 housing units has begun. A huge relief to the homebuyers.

Last Mile Funding- Government bringing relief to the Home buyers

The Government cleared the last mile funding for 2 stuck housing projects with over Rs. 540 crore capital commitment. That will provide relief to over 1,800 troubled homebuyers based in Bengaluru and Mumbai.

Consumer Court or MahaRERA: Whose door should the stuck Home buyers knock?

Consumer Court or MahaRERA: Homebuyers have the option of withdrawing the pending consumer complaint and file before appropriate RERA authorities.

Now Haryana RERA Amendment stayed by P&H High Court

Hon’ble P&H High Court has for now stayed the said amendment from operation and the matter is now listed to be taken up in January 2020 for further orders.

How to get your Money if the builder has filed appeal against you?

As a aggrieved Homebuyer if builder has filed an appeal against you than don’t feel agitated rather take this opportunity to get the money through the means of RERA Tribunal using Section-43 (5).