RERA
REAT Delhi: While Exercising Its Authority Through Suo-Motu Proceedings, RERA Must Inform The Concerned Party Of The Alleged Violations
While setting aside the order and penalty imposed by the Delhi Real Estate Regulatory Authority (RERA or Authority), the Delhi Real Estate Appellate Tribunal (REAT or Tribunal) bench comprising of Justice Chander Shekhar (Chairperson), Lorren Bamniyal (Judicial Member), and Sheo Pratap Singh (Technical Member), has held that RERA, while exercising its authority against a promoter or any real estate agent through suo-motu proceedings, must inform the concerned party of the alleged...
Consumer Cases Weekly Round-Up; 22nd January To 4th February 2024
National Consumer Disputes Redressal Commission National Consumer Commission Holds Raheja Developers Limited for Deficiency in service The National Consumer Disputes Redressal Commission presided by Justice A.P. Sahi (President) held Raheja Developers Limited liable for deficiency in services and directed to refund entire amount of booking along with 18% interest. National Consumer Disputes Redressal Commission National Consumer Commission Holds Raheja Developers Liable For...
Consumer Cases Monthly Digest: January 2024
National Consumer Disputes Redressal Commission National Consumer Commission Holds Raheja Developers Limited for Deficiency in service The National Consumer Disputes Redressal Commission presided by Justice A.P. Sahi (President) held Raheja Developers Limited liable for deficiency in services and directed to refund entire amount of booking along with 18% interest. National Consumer Disputes Redressal Commission Failure To Reverse Fraudulent Transactions, NCDRC Holds HDFC Bank...
Development Agreements For Residential Plots/Bungalows In Delhi-NCR
The Real Estate sector is one of the most crucial economic sectors of the Indian Economy. An average Indian adult’s economic and lifestyle choices are mirrored by the environment of the Real Estate Sector, as when there is more fiscal and financial opportunity available to the average Indian adult, their choices are usually centred around Real Estate which includes purchasing a new property, renovating existing current property, etc. Despite the stalemate of the post-COVID economic environment,...
Status Of Homebuyers Who Are Decree-Holders As Financial Creditors Under Indian Insolvency Regime
The real estate sector has exponentially boomed over past decades; however, it has suffered from unprecedented challenges in the wake of the COVID- 19 pandemic. As per the Report of Expert Committee which was constituted by Ministry of Housing and Urban Affairs to examine the issues related to Legacy Stalled Real Estate Projects, published in July, 2023, there are approximately 4.12 lakh stressed dwelling real estate units involving 4.08 lakh crores in these stalled real estate projects. The...
Status Of Homebuyers Who Are Decree-Holders As Financial Creditors Under Indian Insolvency Regime
The real estate sector has exponentially boomed over past decades; however, it has suffered from unprecedented challenges in the wake of the COVID- 19 pandemic. As per the Report of Expert Committee which was constituted by Ministry of Housing and Urban Affairs to examine the issues related to Legacy Stalled Real Estate Projects, published in July, 2023, there are approximately 4.12 lakh stressed dwelling real estate units involving 4.08 lakh crores in these stalled real estate projects. The...
CREDAI, RERA, NAREDCO, AIAC And Other Leading Organizations And Law Firms Extend Support To IAMC Hyderabad
The International Arbitration & Mediation Centre (IAMC) Hyderabad in collaboration with Shardul Amarchand Mangaldas & Co. organized its first flagship event – International Arbitration Day on October 07, 2023. The event witnessed dignitaries from across the globe, including Supreme Court Judges and High Court Judges, Senior Advocates, International Judges, senior members International arbitral Institutions, Partner from foreign and Indian Law firm Partners, industry bodies...
'Why Create Tribunals When You Don't Want To Continue Them?': Gujarat HC Raps State Govt Over Vacant Posts In GujRERA
The Gujarat High Court on Friday came down heavily on the state government over its failure to fill up the vacant posts of the members of the Gujarat Real Estate Regulatory Authority and Chairperson and technical members of the GujRERA Appellate Tribunal. "Why do you create these tribunals, when you don't want to continue them? You want to frustrate this Act itself. You are acting against your own interest. We will call upon a senior officer. Now, this is enough," Chief Justice Sunita...
Proper System Available To Redress Grievances Of Home Buyer, Not Bank’s Responsibility To Get Project Completed: Delhi High Court
The Delhi High Court has said that banks cannot be loaded with the responsibility of getting the real estate projects completed and they cannot assume the role of a builder to complete the project.The division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad said that banks "can only give a red flag" to the borrower for misutilization of funds by the builder, and it is for the lenders to take appropriate legal action by approaching the civil forum to ensure that the...
Supreme Court Asks States To Submit Suggestions For Model Builder-Buyer Agreement With Mandatory RERA Clauses
Supreme Court bench comprising Chief Justice DY Chandrachud and Justice PS Narasimha asked states to submit suggestions to the Union Ministry of Housing and Urban Affairs on the model builder-buyer agreement with the mandatory provisions of the Real Estate (Regulation and Development) Act 2016 (RERA Act). At the outset, amicus curiae Advocate Devashish Bharuka submitted that in terms of the last order, the court had asked to at least frame Part A of the model agreement, which was to have...
Karnataka RERA Has No Authority Over Projects Granted 'Partial' Occupancy Certificate Prior To Enforcement Of Act: High Court
The Karnataka High Court has set aside an order passed by the Karnataka Real Estate Regulatory Authority, directing M/S. Provident Housing Limited to refund an amount to an apartment purchaser, who filed a complaint with the Authority seeking refund after willingly withdrawing from the contract for sale and accepting the refund amount. The project had received partial occupancy certificate before the enactment of Real Estate (Regulation and Development Act), 2016. A single judge bench...
Relief For Saif Ali Khan: Maharashtra RERA Directs Developer To Hand Over Two Properties With Interest For Delayed Possession
The Maharashtra Real Estate Regulatory Authority (MahaRERA) in Mumbai directed Orbit Enterprises to hand over possession of two units at BKC, Mumbai, to actor Saif Ali Khan along with interest for four years, till 2021, under Section 18 of RERA Act. Member Mahesh Pathak of RERA also directed Khan to pay the final instalment of the two units worth Rs. 14,43,81,800 and Rs 10,90,20,800 respectively along with interest from 2021, as the builder intimated him about the ready flats then. ...