Tag: #ConsumerProtection

Over 8,000 Complaints Pending Resolution at Maharashtra RERA

February 18, 2025

MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA), established to address real estate consumer grievances, is now under scrutiny as homebuyers struggle to get relief. With over 8,000 complaints pending and delays in executing orders—such as recovery warrants by revenue authorities—experts argue that MahaRERA lacks enforcement power and needs to take stronger action. Consider the […]

Over 8,000 Complaints Pending Resolution at Maharashtra RERAmore

Builders Cannot Deduct More Than 10% of Base Price in Case of Cancellation by Homebuyers: Supreme Court

February 5, 2025

NEW DELHI: In a landmark decision, the Supreme Court has ruled that real estate developers cannot enforce one-sided agreements that unfairly favor them, particularly in cases where homebuyers seek to cancel their bookings. The court made it clear that developers cannot deduct unreasonable amounts upon cancellation and that forfeiture should not exceed 10% of the […]

Builders Cannot Deduct More Than 10% of Base Price in Case of Cancellation by Homebuyers: Supreme Courtmore

Karnataka HC: Disgruntled Home Buyers Must Identify Promoters in Complaint.

July 23, 2024

In a recent ruling, the Karnataka High Court emphasized the necessity for home buyers to name the promoters in their complaints against real estate companies. This comes in response to a common issue where real estate firms declare insolvency while their promoters continue to thrive financially. Some promoters exploit this situation by declaring bankruptcy and […]

Karnataka HC: Disgruntled Home Buyers Must Identify Promoters in Complaint.more

MahaRERA suggests that builders self-declare the quality of their projects.

May 14, 2024

MUMBAI: Real estate developers are expected to submit an annual self-declaration of the quality assurance of their projects to the Maharashtra Real Estate Regulatory Authority (MahaRERA). This self-declaration will be based on a number of factors, including structural design, stability, testing, input material quality, workmanship quality, and other important considerations. The action is intended to […]

MahaRERA suggests that builders self-declare the quality of their projects.more

Builders must have project accounting audited by UP-RERA within six months of the conclusion of the fiscal year.

December 14, 2023

NEW DELHI: Within six months of the conclusion of the fiscal year, the promoter must have the project accounts audited and upload the audited balance sheet to the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) website. The project’s financial records will be examined by an authorized panel auditor if there are significant inconsistencies or complaints. […]

Builders must have project accounting audited by UP-RERA within six months of the conclusion of the fiscal year.more