Sakshi Yadav | Legistify

Sakshi Yadav
Answered on 31 Mar 2020

While the ordinance has secured the home buyers and allottees under IBC as financial creditors, the most pertinent issue, which will play out in time is whether the home buyers/ allottees would be treated as secured financial creditors.Read More

Posted on 21 Mar 2020 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 31 Mar 2020

A complaint in RERA or a case in consumer court is the best option for your matter.Read More

Posted on 16 Feb 2020 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 31 Mar 2020

A complaint in RERA Telangana can be filed in case of delayed possession of flat by the builder.Read More

Posted on 11 Feb 2020 | 1 Answer

Tanya Mahajan | Legistify

Tanya Mahajan
Answered on 28 Mar 2020

You can file a complaint in RERA. The main aim of RERA is to provide relief to the buyers from the malpractices of unfair builders. RERA specifies certain norms for building and development of real estate which will enhance the transparency in transactions in the real estate sector.Read More

Posted on 23 Mar 2020 | 1 Answer

Karishma Pandit | Legistify

Karishma Pandit
Answered on 27 Mar 2020

Consumer complaints against builder are covered under the Consumer Protection Act and can be filed in the consumer court. Complaints against builder are also covered under The Real Estate (Regulation and Development) Act, 2016 (RERA).Read More

Posted on 26 Feb 2020 | 1 Answer

Arshi Noor | Legistify

Arshi Noor
Answered on 23 Mar 2020

In case the builder defaults and delays the possession of the property as per the 'agreement of sale', the buyer has the right to claim the refund of the amount paid along with interest. Even in the case, the promoter's registration is cancelled, the buyer will have the right to a refund. buying a flat, a house or any property from your hard-earned money and not getting it on time can be very frustrating. You can also file a complaint to RERA of your respective state claiming your refund along with the interest or damages.Read More

Posted on 26 Feb 2020 | 1 Answer

Shagun Srivastava | Legistify

Shagun Srivastava
Answered on 23 Mar 2020

The delay in possession of their homes has been the biggest concern for the buyers of the real estate properties. For many of the homebuyers, across locations and with almost the builders, the delay has extended to almost six years or more now, with no possession insight. In the absence of a regulator and with no rules in place, the builder-buyer battle appeared one. There are important provisions in RERA that may prevent the builders from delaying the projects and stick to deadlines rather than making a default. 1. Written affidavit: The promoter's promise will now have a legal standing to it. Along with all the required documents, the promoter has to give a declaration, supported by an affidavit stating the time period within which the project or the specific phase will get completed. 2. Possession date will be sacrosanct: Further, the 'agreement of sale' will have to specifically carry the date of possession and the rate of interest in the case of any default. Remember, the time period could differ amongst builders. "For new projects, the committed date of delivery is the choice of the developer and so the customers will need to take a decision if they find that the committed date of delivery is too distant they can opt to not purchase the apartment," 3. Clear title of the land: At times, the land on which the project is supposed to be built gets involved in disputes leading to a delay in construction and delivery. A written affidavit has to be provided by the promoter that the legal title to the land on which the development is proposed has legally valid documents with authentication of such title if such land is owned by another person.Read More

Posted on 16 Mar 2020 | 1 Answer

Sakshi Yadav | Legistify

Sakshi Yadav
Answered on 21 Mar 2020

You can file a case with RERA Authority, as the company is legal entity even if the director dies or they left, the company goes on and does its work, There must be a director or nominee to work accordingly.Read More

Posted on 21 Mar 2020 | 1 Answer

Karishma Pandit | Legistify

Karishma Pandit
Answered on 21 Mar 2020

The RERA Act Chapter 1, section 2(za)-ii says the rate of interest should be equal for both buyers and builder. Further the Central Government has recommended a standard rate of interest as SBI's prime lending rate (PLR) + 2%, which comes to around 10%, through the draft rule, for the states to adopt.Read More

Posted on 10 Feb 2020 | 1 Answer

Saachi Khurana | Legistify

Saachi Khurana
Answered on 03 Mar 2020

If the property is not registered under RERA, you can file the case in consumer forum or you can file a complaint under RERA under the category of UN-registered project as some state RERA authority provide the provision to register compliant for unregistered projects as wellRead More

Posted on 25 Feb 2020 | 2 Answers