State To Widely Publicise RERA Act To Prevent Criminalisation Of Property Disputes: Orissa HC Holds Investor Protection Laws Inapplicable To Builder-Buyer Relations [Read Judgment]
4 years, 6 months ago

State To Widely Publicise RERA Act To Prevent Criminalisation Of Property Disputes: Orissa HC Holds Investor Protection Laws Inapplicable To Builder-Buyer Relations [Read Judgment]

Live Law  

The Orissa High Court last week asserted that the State Government will do well to give wide publicity to the provisions of the RERA Act, 2016 in order to "enable the lay and laity to seek refuge under the appropriate law" and "injunct any unnecessary litigations" arising out of builder-buyer relations. Observing that the State will do well to ensure that the Regulatory Authority functioning under such an Act must be aided by all means possible, Justice S. K. Panigrahi remarked that a wide publicity of the RERA Act will "go a long way" in preventing the property related disputes which are being "perilously brought within the dragnet of criminal proceedings". "The relevant law tailor-made for such situations would be the Real Estate Act, 2016 which categorically caters to such situations", declared the Single Bench. "Typically, in housing construction, a builder constructs a multiple number of apartments.Consequently, the operation of this Section of the Act would result in a piquant situation where one lone buyer while claiming refund of his deposit would cause attachment of the other flats so constructed, irrespective of the fact as to whether such flats have been transferred to other transferees by the builder and corresponding rights thereupon have been created or not.This kind of a situation could not have been the intention of the legislature considering the practices, problems and complexities involved in the real estate sector", explained the bench.

Case State Estate Real Act Bench Rera Schemes Transactions Provisions Real Estate Transactions Panigrahi Wide Publicity Such Situations Financial Establishments Opid  protection  real  orissa  prevent  bench  widely  property  act  state  schemes  publicise  case  transactions  opid  rera  provisions  read  relations  estate

History of this topic

Maharashtra RERA Holds Spenta Enclave Liable For Delay, Orders Interest To Homebuyers
3 months, 3 weeks ago

Maharashtra RERA Holds Spenta Enclave Liable For Delay, Orders Interest To Homebuyers

Live Law  

While allowing the complaints of Two homebuyers, Maharashtra Real Estate Regulatory Authority bench comprising of Manoj Saunik directed Spenta Enclave to pay interest to the homebuyers for the delay in handing over possession of the flat. Background Facts Homebuyers purchased their respective flats in the builder's project named Altavista - Phase 1, located at Kurla, Mumbai Sub Urban. Observation and …

RERA Cases Quarterly Digest 2024
11 months, 1 week ago

RERA Cases Quarterly Digest 2024

Live Law  

Ministry of Housing and Urban Affairs The Ministry Of Housing And Urban Affairs Releases Report On The Implementation Status Of The Real Estate Act The Ministry of Housing and Urban Affairs has released the implementation status report of the Real Estate Act, 2016, commonly known as RERA, in India. Tamil Nadu Real Estate Appellate Tribunal TNREAT Orders Hiranandani Realtors To …

Consumer Cases Weekly Round-up: 11th to 17th March 2024
1 year ago

Consumer Cases Weekly Round-up: 11th to 17th March 2024

Live Law  

National Consumer Disputes Redressal Commission Booking Commercial Space For Self-Employment Business Deemed As Commercial Purpose : National Consumer Commission The National Consumer Disputes Redressal Commission, presided by Justice Ram Surat Maurya and Bharatkumar Pandya, in a complaint against MVL Holding Ltd ruled that commercial space booked for doing business by way of self-employment comes under the definition of commercial purpose. …

RERA Prevails Over SARFAESI ; Homebuyers Can Move RERA Authority Against Bank's Recovery Actions : Supreme Court
3 years, 1 month ago

RERA Prevails Over SARFAESI ; Homebuyers Can Move RERA Authority Against Bank's Recovery Actions : Supreme Court

Live Law  

The Supreme Court upheld a Rajasthan High Court judgment which held that Real Estate Regulatory Authority can entertain complaints by home buyers against the bank which took possession of a real estate project as a secured creditor.Before the Rajasthan High Court, the Union Bank of India and others had questioned the authority. Case name: Union Bank Of India vs Rajasthan …

Robust Regulatory Mechanism & Draft Agreement Already Prescribed Under RERA: Centre Tells Supreme Court In Plea Seeking Model Builder Buyer Agreement
3 years, 3 months ago

Robust Regulatory Mechanism & Draft Agreement Already Prescribed Under RERA: Centre Tells Supreme Court In Plea Seeking Model Builder Buyer Agreement

Live Law  

Responding to a plea seeking a model builder buyer agreement, the Central Government has submitted before the Supreme Court that a robust regulatory mechanism and draft 'agreement for sale" has already been prescribed under the provisions of RERA.According to Centre, the mechanism prescribed under RERA seeks to balance the rights and interest. Responding to a plea seeking a model builder …

Interpretation Of RERA By Courts
3 years, 8 months ago

Interpretation Of RERA By Courts

Live Law  

Real estate sector is one of the core sectors in the economy in terms of its contribution to GDP, employment of labor force and the multiplier effects it has on other vitals of the economy. This issue has surfaced primarily because of proviso of section 3 of the Act which imposes the obligation of registration of the real estate project …

RERA: What India's First Real Estate Regulatory Act Seeks to Achieve And Why It's Necessary
4 years, 2 months ago

RERA: What India's First Real Estate Regulatory Act Seeks to Achieve And Why It's Necessary

News 18  

Minister of Housing and Urban Affairs, Hardeeop Singh Puri in an article on Wednesday wrote, Real Estate Act has transformational provisions, conscientiously addressing issues which have been a constant bane for the sector. The RERA, that came into effect in 2017, seeks to protect the interests of home buyers and also boost investments in the real estate sector. RERA, it …

Consumer Complaint By Allottee Against Builder Not Barred By RERA Act: Supreme Court [Read Judgment]
4 years, 4 months ago

Consumer Complaint By Allottee Against Builder Not Barred By RERA Act: Supreme Court [Read Judgment]

Live Law  

The Supreme Court has held that a complaint before Consumer Fora by allottees against builders is not barred by the Real Estate Act, 2016.In this case, the the complainants who had booked apartments by executing Builder Buyer Agreements in 2013, had approached the Consumer Commission which allowed their complaint and ordered refund of the amounts deposited by each. Before the …

Andhra Pradesh: Builders to move Supreme Court on RERA exemption
7 years, 7 months ago

Andhra Pradesh: Builders to move Supreme Court on RERA exemption

Deccan Chronicle  

Rajahmundry: Builders registered with Credai will move the Supreme Court seeking exemption in the Real Estate Act, 2016, on its implementation with retrospective effect, defect liability on workmanship and land title insurance. The builders say that as the Act came into effect on May 1, housing projects and ventures that got plan approval on or after that day have to …

Understanding Financial And Penal Liability Under RERA
7 years, 7 months ago

Understanding Financial And Penal Liability Under RERA

Live Law  

The Real Estate Act, 2016 promises to pave the way for a new era in the Indian real estate sector - an era of regulation, transparency, structure and security. In the event that a Promoter contravenes the relevant provisions of RERA by advertising or marketing their real estate project without obtaining proper registration, he shall be liable to pay a …

Understanding Financial And Penal Liability Under RERA
7 years, 7 months ago

Understanding Financial And Penal Liability Under RERA

Live Law  

The Real Estate Act, 2016 promises to pave the way for a new era in the Indian real estate sector - an era of regulation, transparency, structure and security. In the event that a Promoter contravenes the relevant provisions of RERA by advertising or marketing their real estate project without obtaining proper registration, he shall be liable to pay a …

RERA - A Relief For Consumers?
7 years, 10 months ago

RERA - A Relief For Consumers?

Live Law  

With the coming into force of the Act on Labors day, in Maharashtra, the previous Act styled as MOFA governing the real estate also continues. No registration of the real estate project is required where the promoter has received completion certificate for the project prior to commencement of this Act, for the renovation or repair or re-development which does not …

RERA - A Relief For Consumers?
7 years, 10 months ago

RERA - A Relief For Consumers?

Live Law  

With the coming into force of the Act on Labors day, in Maharashtra, the previous Act styled as MOFA governing the real estate also continues. No registration of the real estate project is required where the promoter has received completion certificate for the project prior to commencement of this Act, for the renovation or repair or re-development which does not …

RERA (Real Estate Regulatory Act) - Will Haryana Implement The Right, Earnest, Rare, Approach?
7 years, 10 months ago

RERA (Real Estate Regulatory Act) - Will Haryana Implement The Right, Earnest, Rare, Approach?

Live Law  

The much exulted RERA will soon be implemented in Haryana from 1st May, 2017. RERA had instilled the much needed hope amongst the consumers, administrators and real estate players. Some of the highlights of the Act include: It establishes the State Real Estate Regulatory Authority for that particular state as the government body to be approached for redressal of grievances …

Discover Related