"Covid-19 Should not be an excuse to protect undue rights of Real Estate Promoters"
An Appeal by Col. Tejandra Pal Tyagi Corona should not be used as a shield to protect the undue rights of the Promoters 1st May is celebrated as the RERA Day. This time both the Promoters and the home buyers are in great trouble. Most of the labour have left the construction site and gone to their villages not only on account of the Lockdown restrictions but also owing to the recurring need of crop harvesting during this time of the year. UP RERA has indicated that other things remaining the same, construction work may resume by mid May. H…
Landmark judgement upholds homebuyer’s status as financial creditors to developers
RERA & IBC sister acts, says SC Team TT Dismissing the plea of over 200 real estate companies holding the Insolvency and Bankruptcy Code (IBC) illegal and unconstitutional, a Supreme Court bench headed by Justice RF Nariman upheld the right of homebuyers for redressal under the new Code. In effect homebuyers will be considered financial creditors to the real estate companies and can take recourse to the IBC against defaulting developers. The Bench in its judgement on August 9, held that the RERA Act, which regulates the real estate sector,…
TS RERA Forced to extend deadline for registration a 5th time
Builders disregard advisories to register repeatedly despite the threat of hefty penalties by TS RERA Reflecting the obvious reluctance to be regulated, real estate developers and other players in the real estate sector, has shown a lukewarm response to the call by the Telangana Real Estate Regulatory Authority (RERA), to get registered with the Authority. To date applications from only 3100 of the estimated 5000 plus projects in the Telangana state have been received. As a result, the TS RERA has been forced to yet again extend the deadline …
MahaRERA Chairman asks home owners to test TS RERA rules in court
TS RERA organizes 1 st stake-holder workshop By B T Srinivasan Hyderabad, January 19 Quite expectedly, the first stake-holder interaction organized by the Telangana State Real Estate Regulatory Authority (RERA), on Friday, 18 January, saw divergent views and focus from developers, promoters and buyers pressing their own standpoints. Significantly, the Workshop convened by the TS RERA was addressed by none other than Shri Gautham Chatterjee, Chairman of the Maharashtra RERA (MahaRERA), on which the TS RERA is modelled. Further TS RERA also use…
RERA Act can be imposed even if projects not registered, real estate developers warned
Non-registration of a real estate project does not mean it is beyond the purview of the RERA Act, Shri Anthony De Sa, Chairman, the Madhya Pradesh RERA Authority warned real estate developers. Speaking at a special session on Urban Housing and RERA Implementation, at the recently concluded 6th National Conference of RAWs (NCRWA), Shri De Sa, who is the first Chairman of any RERA Authority to be appointed in the country, said the authority in Madhya Pradesh had taken a view quite different from RERA Authorities in some of the other states and …
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