Tag: #Home-buyers

Real estate investment

Homebuyers filed a writ petition in SC challenging IBC amendment.

January 8, 2020

Homebuyers opposed the central government’s ordinance to amend the Insolvency & Bankruptcy Code (IBC) 2016 and demanded a stay of the operation of Section 3 of the Insolvency and Bankruptcy Code (Amendment) 2019, which aims to modify Section 7 of the IBC. “The writ petition is filed by 11 petitioners from 11 different projects, including […]

Homebuyers filed a writ petition in SC challenging IBC amendment.more
PMO

Homebuyers’ body urged PMO to place RERA officials under CVC.

September 17, 2019

By Abhay Shah, Realty Quarter Homebuyers’ body FPCE prompted the Prime Minister’s Office to bring representatives to the Central Vigilance Commission implementing the provisions of the Real Estate (Regulation & Development) Act. The Forum for People’s Collective Efforts (FPCE) has also suggested in its letter to the PMO that all contracts adopted under RERA be audited by the […]

Homebuyers’ body urged PMO to place RERA officials under CVC.more
Real Estate Market

MahaRERA is setting up conciliation forum benches in each district to resolve disputes between developers and home buyers.

September 9, 2019

By Abhay Shah, Realty Quarter The Maharashtra Real Estate Regulatory Authority (MahaRERA) is contemplating extending its conciliation forum experiment by establishing benches to assist settle conflicts between builders and house buyers in each district of the state. Gautam Chatterjee, the chairman of the authority, said the expansion is going to take place in phases. MahaRERA […]

MahaRERA is setting up conciliation forum benches in each district to resolve disputes between developers and home buyers.more
NCDRC

Developers are responsible to refund amount with interest equivalent to Home loan interest rate – NCDRC.

July 8, 2019

By Abhay Shah, Realty Quarter The National Consumer Disputes Redressal Commission (NCDRC) has said that developers should repay money for delayed projects with interests at the rate at which the nationalized bank such as SBI provides home loans during the era concerned, in order to guarantee that homebuyers retrieve their cash, including interest on house loans. The […]

Developers are responsible to refund amount with interest equivalent to Home loan interest rate – NCDRC.more
Tax

Apartment price likely to rise by Rs.200 per square foot – Maharashtra Government.

June 12, 2019

By Abhay Harish Shah, Realty Quarter With the Confederation of Real Estate Developers Association of India (Credai), Maharashtra Government decided to pass the burden of input tax credit to purchasers, which will affect to increase apartment prices by Rs.200 per square foot. The annual general meeting of the developer’s board in Kolhapur took a decision […]

Apartment price likely to rise by Rs.200 per square foot – Maharashtra Government.more
MahaRERA

MahaRERA declares – Developers are not allowed to transfer their majority stakes without written approval from the authority.

June 11, 2019

By Abhay Harish Shah, Realty Quarter The Maharashtra Real Estate Regulatory Authority (MahaRERA) makes the declaration that while transferring or allotting promoters rights and liabilities to a third-party the real estate developers has to disclose any financial creditors charge on their projects. The regulator’s direction assumes importance, upon growing instances of joint development contracts or […]

MahaRERA declares – Developers are not allowed to transfer their majority stakes without written approval from the authority.more
MahaRERA

More than 70% of home buyers wish to lodge a complaint under RERA Act for possession delays, says the survey.

June 4, 2019

By Abhay Harish Shah, Realty Quarter According to the survey conducted by Magicbricks, there will be more than 2/3rd of the complaint by home-buyers against the developer with a real estate regulator under the new RERA Act for any delay in possession of their apartment. RERA rules have already been notified by 22 States and […]

More than 70% of home buyers wish to lodge a complaint under RERA Act for possession delays, says the survey.more
NCDRC

Home buyers can claim refund along with 10% interest in case of flat gets delayed beyond 1 year – NCDRC Rule.

May 17, 2019

By Abhay Harish Shah , Realty Quarter The National Consumer Disputes Redressal Commission (NCDRC) is now supporting homebuyers who have been struggling to take possession of their homes for years. The customer committee at Apex has established a one-year deadline for stalled real estate projects after which home buyers can request a refund from the developer if the […]

Home buyers can claim refund along with 10% interest in case of flat gets delayed beyond 1 year – NCDRC Rule.more