RERA
Real Estate Monthly Digest : December 2024
Haryana Real Estate Regulatory Authority Haryana RERA Directs Anant Raj Builders To Pay Interest, Execute Conveyance Deed In Favor Of Homebuyer Case – Mohit Bansal Versus M/s. Anant Raj Ltd Citation – Complaint No: 6493 Of 2022 Haryana Real Estate Regulatory Authority (Authority) bench comprising of Ashok Sangwan (Member) has directed M/s. Anant Raj Ltd to pay interest for delay and execute conveyance deed in the favour of Homebuyer. Delay Of More Than 2.7 Years In...
Haryana RERA Holds Emaar India Right In Charging Rs. 34.75 Lakh For External And Infrastructure Development Charges
Haryana Real Estate Regulatory Authority (Authority) bench comprising Arun Kumar (Chairman), Vijay Kumar Goyal (Member) and Ashok Sangwan (Member) held that Emaar India was right in charging Rs. 34.75 lakhs from the complainant as External Development Charges (EDC) and Infrastructure Development Charges (IDC). Background Facts The complainant booked a Shop Cum Office plot in the builder's (Respondent) project named Emaar Business District located in Sector 114, Gurugram by paying a...
Haryana RERA Directs Signature Global To Pay Interest To Homebuyer Of Affordable Group Housing Project
Haryana Real Estate Regulatory Authority (Authority) bench, comprising Ashok Sangwan (Member), has directed M/s Signature Global India Private Limited to pay interest to homebuyer from its Affordable Group Housing Project for delayed possession. Affordable housing projects in Haryana provide housing unit at set prices and size for people with below-average household incomes. Background Facts: The homebuyer (Complainant) was allotted a flat in the builder's (Respondent) Affordable...
Half-Full: Post IBC, How Do We Encourage A Healthy Real Estate Participation?
The valuation of Indian real estate sector has witnessed a surge like none other. To wishful buyers, the sector still reeks of repulsive practices. Application of legal conventions such as RERA (Real Estate Regulation Act) and subsequently Insolvency and Bankruptcy code to tackle defaulting realtors have been some assurances from lawmakers.In the words of Ravi Mittal, Chief of IBBI (Insolvency and Bankruptcy Board of India), IBC may have played a key role in revival of real estate in the...
Haryana RERA Directs Ansal Builders To Refund Booking Amount Paid By Complainant For Purchasing Shop
Haryana Real Estate Regulatory Authority (Authority) bench comprising Ashok Sangwan (Member) has directed M/s Ansal Housing and Constructions Limited to refund the booking amount of 7 lakhs paid by the complainant for purchasing the shop. The complainant approached the authority after the builder retained the booking amount following the complainant's withdrawal from the project in 2022 due to delays in receiving possession of the shop. Background Facts The complainant booked a...
Haryana RERA - No Additional Compensation To Homebuyer When Interest For Delayed Possession Already Granted
Haryana Real Estate Regulatory Authority (Authority) Bench comprising Rajender Kumar (Adjudicating Officer) dismissed the homebuyer's complaint against M/s. Emaar MGF Land Limited seeking additional compensation. Authority held that no additional compensation can be granted to the homebuyer when delay possession compensation has already been granted along with interest under Section 18(1) of the RERA, 2016. Background Facts Homebuyer (Complainant) purchased a flat in the builder's ...
Karnataka RERA Holds Shrivision Homes Liable For Delayed Possession, Orders 30.2 Lakhs Interest To Homebuyer
Karnataka Real Estate Regulatory Authority (Authority) bench, comprising GR Reddy (Member), has directed M/S Shrivision Homes Pvt. Ltd to pay Rs. 30.2 Lakhs to the homebuyer as interest for delay in handing over possession of the flat. Background Facts Homebuyer (Complainant) booked a flat in the Tower 5 of builder's (Respondent) project named Shriram Chirping Woods located at Bengaluru Urban District. Homebuyer entered into the agreement for sale with builder on 3rd February 2017...
Karnataka RERA Orders Dharwad-Based Builder To Refund ₹38.8 Lakhs To Homebuyer Due To Delay
Karnataka Real Estate Regulatory Authority (Authority) bench comprising Neelmani N. Raju (Member) has directed the Dharwad-based builder named Skytown Builders and Developers to refund ₹38.8 lakhs to the homebuyer after the builder failed to provide possession of the flat on time. Background Facts The homebuyer (Complainant) booked a residential flat on the ground floor in the builder's (Respondent) project named Skytown Luxuria for a total sale consideration of Rs. 27,00,000/- and...
REAL ESTATE WEEKLY ROUND UP: DECEMBER 2 – DECEMBER 8
Haryana Real Estate Regulatory Authority Haryana RERA Directs Anant Raj Builders To Pay Interest, Execute Conveyance Deed In Favor Of Homebuyer Case – Mohit Bansal Versus M/s. Anant Raj Ltd Citation – Complaint No: 6493 Of 2022 Haryana Real Estate Regulatory Authority (Authority) bench comprising of Ashok Sangwan (Member) has directed M/s. Anant Raj Ltd to pay interest for delay and execute conveyance deed in the favour of Homebuyer. Himachal Real Estate Regulatory...
Telangana RERA Permits Association Of Homebuyers To Take Over Project Due To Builder's Failure
While invoking Section 8 of the Real Estate (Regulation and Development) Act, 2016, the Telangana Real Estate Regulatory Authority (Authority) bench comprising Justice Dr. N. Satyanarayana (Chairperson), K. Srinivasa Rao (Member), and Laxmi Narayana Jannu (Member) permitted the Association of Homebuyers (allottees) to take over the project and complete it within eight months. Section 8 allows the Authority to take necessary actions if a project's registration lapses or is revoked. ...
Karnataka RERA Directs Ozone Urbana Infra Developers To Refund Rs. 1.02 Crores To Homebuyer
Karnataka Real Estate Regulatory Authority (Authority) bench, comprising Neelmani N Raju (Member) has directed Ozone Urbana Infra Developers to refund Rs. 1.02 crores to the homebuyer after the builder failed to provide assured returns, pay Pre-EMIs and hand over the possession of the flat on time. Monthly assured returns projects are schemes in which builders guarantee to pay homebuyers a fixed amount at regular intervals, typically monthly or for a designated period. Background...
Himachal RERA Rejects Homebuyer's Structural Defect Complaint Filed More Than 10 Years After Taking Possession
Himachal Real Estate Regulatory Authority (Authority) bench comprising Justice Srikant Baldi (Chairperson) rejected homebuyer's structural defect complaint, holding it to be time-barred as it was filed more than 10 years after taking possession. However, the Authority found that the project in which the homebuyer purchased a flat was eligible to be registered under Section 3 of RERA, 2016. Therefore, the Authority directed the builder to register the project with RERA within one month. ...