Right of homebuyer seeking refund and compensation for a delayed project
Section 18 (1) gives two kinds of rights to the homebuyers i.e. right to get a Refund along with Interest and the Right to get Compensation.
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Consumer court have the power to direct refund and compensation in case of delayed delivery of the apartment
The Consumer Protection Act is a wide-ranging provision and it is not a specific resolution like the Insolvency ad Bankruptcy Code and the remedies are simultaneously and mutually exclusive.
Delayed Possession and Compensation under RERA
According to the provisions of the agreement, if possession is not handed over on time, the Promoter is obligated to pay or compensate the Complainant/allottee for loss of rent.
Compensation delayed for aggrieved homebuyers in Karnataka
Hundreds of homebuyers in Karnataka have been left in the lurch as they still haven’t received compensation from the developers. The Karnataka RERA has already passed orders against these errant developers and penalized them for not delivering possession
Airoli developers to pay compensation to home buyers
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.
MPRERA: No Compensation when Apartment is in Shabby Condition
The complainants are seeking compensation in routinely manner from the RERA authority for each and every omission from the builder.
Compensation Rule under MahaRERA
This article is about MahaRERA and how it rejected complaints of a number of home buyers, who invested their hard-earned money in Bhagtani’s Serenity project in Powai
Draft amendment approved for compensation in case of dishonor cheque
The Union Cabinet approved draft amendments in the Negotiable Instruments Act, 1881, that could award interim compensation in a case relating
GST Council agrees to 100% Compensation to states
SEBI proposed a Consultative Paper titled ‘Corporate Governance Issues in Compensation Agreements’
SEBI proposed a Consultative Paper titled ‘Corporate Governance Issues in Compensation Agreements’ to review the disclosure requirements under SEBI (LODR) Regulations, 2015. The Paper has proposed curbs on compensation agreements between promoters of a listed entity and private equity (PE) funds. One view is that there is no place at all for such side agreements in case of … Continue reading “SEBI proposed a Consultative Paper titled ‘Corporate Governance Issues in Compensation Agreements’”
Govt. releases drafts of revised Model GST, IGST and GST Compensation Laws
Government has released the revised Model GST law, Draft IGST law, and Draft GST Compensation law, in public domain. These three laws will be consider and finalize in the upcoming GST Council meeting going to be held on 2nd and 3rd December 2016.
The Impact of RERA on Homebuyers in India
RERA has been a game changer for homebuyers in India. Real Estate (Regulation and Development) Act, 2016 (RERA) has made home buying less intimidating by prioritizing home buyers. Before enactment of the RERA, the real estate sector was largely unregulated, unfettered, leaving homebuyers with little protection. The RERA was introduced to bring transparency, accountability, and timely possession to the homebuyers.
METAVERSE AND LEGAL ISSUES: A TECHNO- LEGAL ANALYSIS
The future is virtual — but the legal consequences are real.
At Centrik, we explore the evolving techno-legal landscape and decode the challenges of law beyond physical boundaries.
Power of RERA Authority to Impose Penalties on Builders
If the promoter fails to follow RERA’s orders, they will have to pay a penalty. This amount could be up to 5% of the evaluated cost of the property. If the Appellate Tribunal’s orders are not complied with, a penalty will have to be paid.
Timely Filing of Claims in case of Real Estate Projects undergoing CIRP
At the initiation of CIRP when a public notice is issued under Section 15, claims of creditors are invited; but in some scenarios in real estate cases, homebuyers are often unable to take note of the public announcement of CIRP owing to different factors.
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