Thousands of acres of land hitherto not utilized by Bangalore Development Authority
a senior Bangalore DEvelopment Authority official stated that some properties are encroached, while some other are trapped under the litigation process.
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Legal solutions when real estate project is stuck
Since the real estate projects are the turkey projects and take multiple years to get it completed, a normal delay can be accepted. Any delay of more than 1 year from promised date of possession is regarded as ‘extra-ordinary delay’.
Recovery can be permitted against the assets of group companies: Bombay High Court
If the non-payment of a clear undisputed amount is being illegally and dishonestly avoided, whilst at the same time very large sums of money are being raised and spent by the same group or carrying on large real estate development projects.
Prosecution u/s 138 of NI Act cannot be quashed on grounds of acceptance of CIRP: Madras HC
If the corporate debtor’s resolution plan was authorised and declared binding on the corporate debtor and its workers, members, creditors, guarantors, and other stakeholders under Section 31 of the Code, criminal proceedings under Section 138 will continue.
NCLAT explains essential criteria of Financial Creditor
In the present case, the NCLAT held that the Appellants were acting as investors, the money they gave to the Respondents was in the nature of a loan, satisfying the condition of amount “disbursed against consideration for time value of money,” and the committed returns were in the nature of “interest.”
RERA- Safeguards to Homebuyers
The main purpose of the Act lies in enhancing the Transparency between buyer and builder and creating a strong adjudicating system for the disputes arising in real estate sector. An aggrieved homebuyer seeks right legal remedy after getting exploited by the builder.
Duties and Liabilities of a Promoter under RERA
A promoter should consider the future security of the buyers. Therefore, a promoter ought to give protected and right quality land administration to their expected clients.
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.
Fake Advertisements to lure homebuyers
A simple deal will never have special promises which can’t be fulfilled. It’s a usual tendency for a common man to get lured by special offers but you have to keep in mind that no one is spending a penny from their pockets for doing something extra for you.
Arbitrary Builder-Buyer Agreements
We often talk about the rapid growth of the real estate sector in India but forget to talk about the legal documents that play a very crucial role in the aforesaid sector. And builder buyer agreement is one of the most important documents for homebuyers.
How to handle demand letter by Builder
A comprehensive article with analysis as how to handle the demand letters issued by the builders, from time to time to get the money from builders.
UPRERA orders completion of stalled projects after joint proposal
Homebuyers may have delayed projects completed under the aegis of the AoA, under the model formulated under Section 8 of RERA. Joint proposal of ASGI Properties Pvt Ltd and ASG Apple 7 Buyers Association, authorised the developer to complete the stalled project.
RERA- The Complete Machinery
Main purpose of the Act lies in enhancing the Transparency between buyer and builder and creating a strong adjudicating system for the disputes arising in real estate sector.
IF THE BUILDER IS REFUSING TO PROVIDE YOU THE DOCUMENTS, RERA MAY HELP YOU
TN-RERA has recently passed an order to the builder to refund the amount with interest along with Rs. 75,000 for compensation and litigation expenses against the Developer for not providing the documents.
Pandemic fueled delay in possession hit homebuyers hard
Homebuyers were promised possession years ago but till date thousands of them are still waiting to get the possession and have faith in the system to get justice.
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