RERA Monthly Roundup: August 2024
Haryana Real Estate Regulatory Authority Haryana RERA Directs Ocean Seven Buildtech To Pay Interest To 15 Homebuyers Of Expressway Towers For Delayed Possession
ReraReal Estate Regulatory AuthorityHaryana ReraMaharashtra ReraKarnataka ReraTamil Nadu ReraTelangana ReraReal Estate MaharashtraSep 09, 2024
Haryana Real Estate Regulatory Authority (Authority) bench, comprising Ashok Sangwan (Member), has directed Ocean Seven Buildtech Pvt. Ltd., the builder, to pay interest to the 15 homebuyers of the Expressway Towers project located at Sector 109, Gurugram, for the delay in handing over possession.
The project was an affordable housing project, and possession was expected to be handed over by the builder within 4 years from the date of building plan approval or environmental clearance, whichever is later.
Haryana RERA Orders Czar Buildwell To Refund Amount Paid By Homebuyer Of Mahira Homes-104
Haryana Real Estate Regulatory Authority (Authority) bench, comprising Ashok Sangwan (Member), directed M/s Czar Buildwell Pvt. Ltd., the builder, to refund the amount paid by the homebuyer along with interest.
Although the due date for possession was set for 2026, the Authority revoked the project's registration on March 11, 2024, due to numerous violations of the Real Estate (Regulation and Development) Act, 2016. Since it was clear that the builder could not complete the project, the Authority granted a refund to a homebuyer of the Mahira Homes 104 Project.
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MahaREAT Criticizes MahaRERA's Casual Approach, Directs Spenta Builders to Pay Interest from Default Date Until Possession Handed Over
While directing M/s. Spenta Builders Pvt. Ltd, the builder to pay interest from the due date of possession until the date possession was handed over to the homebuyer, Maharashtra Real Estate Appellate Tribunal (Tribunal) bench, comprising Shriram R. Jagtap (Judicial Member) and Shrikant M. Deshpande (Technical Member), criticized the casual and non-serious approach of the Maharashtra Real Estate Regulatory Authority (Authority) in deciding the default date from which the builder would be liable to pay delay interest to the homebuyer.
The Authority had relied on a similar complaint filed by other homebuyers of the same project, where it had directed the builder to pay interest from 01.07.2017.
Karnataka Real Estate Regulatory Authority
Karnataka RERA Orders Shrivision Towers To Pay Interest To Homebuyer For Delayed Possession
Karnataka Real Estate Regulatory Authority (Authority) bench, comprising Neelmani N. Raju (Member), has directed Shrivision Towers Private Ltd., the builder, to pay interest to the homebuyer for failing to hand over possession of the flat on time. According to the agreement, the builder was supposed to hand over possession by September 2021.
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Frequently Asked Questions
What is RERA?
RERA stands for Real Estate Regulatory Authority, which is a regulatory body established to regulate the real estate sector in India.
What is the purpose of RERA?
The purpose of RERA is to protect the interests of homebuyers and to promote transparency and accountability in the real estate sector.
Can homebuyers file concurrent complaints before RERA and Consumer Court seeking similar reliefs?
Yes, homebuyers can approach the Real Estate Regulatory Authority (Authority) even if they have already filed a complaint before the Consumer Court. However, if both complaints seek the same relief, the Doctrine of Election will apply.
What is the Doctrine of Election?
The Doctrine of Election says that if an aggrieved party has two options to get the same relief, they must choose one option and cannot pursue both.
Can a builder forfeit the money paid by a homebuyer as part of the consideration?
No, a builder is not entitled to forfeit the money paid by a homebuyer as part of the consideration, as per the Maharashtra Real Estate Appellate Tribunal.
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