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Invoking Section 18 of the RERA Act, 2016 MAHARERA directed Epitome Residency to refund, with interest, almost Rs.2.4 crore for a flat booked on the 43rd floor of Imperial Heights Tower C in Goregaon for the delayed possession. To provide relief to the buyer, the argument of builder’s lawyer convincing that the delay reasons were beyond his control to issue the OC were also put down by MAHARERA. ...
Provoking Section 7 of the Insolvency and Bankruptcy Code 2016 NCLT has initiated a corporate insolvency resolution process against Raheja Developers. The builder was not able to supply the basic amenities like the supply of water. Hence, NCLT admitted buyer’s petition and ordered the builder to supply these amenities. To initiate the proceedings the buyer has been ordered to deposit Rs.1 lakh to the IRP to meet the expenses to perform the function within 3 days of the order. ...
To address issues between aggrieved consumers and developers and ensure timely completion of projects the MAHARERA will soon have 27 Conciliation panels across the state. Currently, 15 conciliation panels are in operation- 10 in Mumbai and 5 in Pune. The additional 12 panels will soon be launched for Pune, Thane, Navi Mumbai, Nashik and Nagpur. The panels comprise a consumer representative and a developer representative who interact with banks, homebuyers and builders for the timely completion of the projects. ...
A housing society in Vidyavihar has been declared as a co-promoter of the project by MAHARERA where the society has been penalized with Rs. 15 lakh for violation of Section 15 of the RERA Act, 2016. Section 15 states that prior consent of two-thirds of flat buyers and written approval of the authority is mandatory before transferring development rights. Revoking HC order MAHARERA held that since the society executed an agreement with the builder for the construction of a new building by demolishing the existing one and sell additional flats, it comes under the definition of the promoter. ...
Around 100 ghost realty projects have been identified by UPRERA authority, which builders have abandoned leaving homebuyers and investors with no hope in sight. The authority has asked the Noida, Greater Noida and Yamuna expressway industrial development authorities to identify more such projects because the deadline to approve maps of these realty projects' building maps has elapsed. UPRERA wants the local authorities to conduct a survey to determine the actual number. ...
GDA was served with a notice by UPRERA over its failure to appear before the regulator in a case related to the Indirapuram housing scheme for the economically weaker section. The UPRERA bench has threatened the GDA officials to pass an ex-parte order if they do not appear on 29th August, 2019. As per RERA Rules, all development agencies and private builders are required to update their projects so that they can be accessed easily by the buyers and the status of the projects are in the public domain. ...
UPRERA Chairperson clarified that the single window system will be launched in mid-September. Citizens and developers would be able to get maps approved, lodge complaints and secure progress reports and no-objection certificates for projects. All information about the facility will be made available online. Citizens will also be able to file complaints in case builder is delaying possession of a unit and also seek information about promoters. ...
In an event organized by industry chamber PHDCCI, Gurugram RERA Chairman asked companies to make suggestions to the Government for necessary amendments to RERA Act to make it dispassionately objective for both builders and home buyers. In the current format, several sections and sub-sections of the Act are contradictory in nature and are open for many legal interpretations and therefore an amendment to them is necessary to get a fair deal so that the intended growth of the sector is ensured. Hence, the law should be amended to plug loopholes and make it more effective for the interest of all stakeholders. ...
After receiving many valuable inputs at the workshops conducted, the Union Housing and Urban Affairs Secretary has confirmed at the 15th National Convention of the NAREDCO (National Real Estate Development Council) that the Government is working towards amending several provisions of the RERA Act, 2016 which will benefit both developers and homebuyers. The discussions will be initiated soon and changes would be made in the law wherever required. ...
The builders have to spend more money to register their projects with Rajasthan RERA. The authority has imposed standard fee along with registration charges. The new fees shall be applicable from 1st September, 2019. Also, apart from plotted schemes promoters of housing schemes will have to pay Rs.20 per square meter as a standard fee. Delayed penalty charges for registration of ongoing projects shall also be levied. ...
Grieving over the case of double selling and misappropriation of funds by the builder, more than 100 shop owners of IHC approached the UPRERA and submitted a detailed report to it as they want to take-over the project and construct it themselves. The authority has ordered the promoter to provide a list of allottees in phase-1 for registration of sub-lease deed while the IHC buyers association were asked to provide the details of rent the builder was receiving from the tenants of the project. ...
Exercising the power under Section 37 of the RERA Act, 2016, the HRERA ordered Emaar MGF Land to pay the delay possession charges @10.60% p.a. from the committed date of possession to the actual date of delivery of the property for its project Palm Hills situated in sector 77, Gurugram. Although being served with the notice, the developer didn’t appear and the concerned amount of charges are to be paid within 90 days from the order date. ...
A review meeting was held by UPRERA to ascertain the current status of Ajnara’s Ambrosia, Antriksh Valley, Sunworld Arista, Gardenia’s Golf City, and Gardenia Glory projects both physically and financially. A direction was issued by UPRERA to the above-mentioned projects to submit a completion plan of their respective projects. It has also directed the promoters to take up the certain initiative to regain the trust of buyers and assure cash flows for timely delivery of flats. ...
The Justice of the Supreme Court warned the officials of Noida and Greater Noida authorities to comply with the July 23, 2019 order issued by it, thereby starting registration of flats in favor of Amrapali homebuyers within a month and also issue a completion certificate for the projects where homebuyers are already residing. It has also clarified that non-compliance of the said order can lead to imprisonment of the concerned officers in this case. ...
Due to a dispute between the landowners and the promoters on account of land, the project incompletion has led to non-possession of the apartments of the project to the homebuyers. 42 of the 200 homebuyers approached GUJRERA for a project located at Bhayli, Vasna Road in Vadodara for proper action. Therefore, the GUJRERA will appoint an independent auditor as per the order issued by GUJRERA to conduct the forensic audit to verify the project receipts, payments, receivables, and payables, along with the estimation of work needed for completion of the project. ...
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