Telangana RERA Permits Association Of Homebuyers To Take Over Project Due To Builder's Failure
Live LawWhile invoking Section 8 of the Real Estate Act, 2016, the Telangana Real Estate Regulatory Authority bench comprising Justice Dr. N. Satyanarayana, K. Srinivasa Rao, and Laxmi Narayana Jannu permitted the Association of Homebuyers to take over the project and complete it within eight months. Being Aggrieved, the homebuyers filed a complaint before the authority seeking possession and a direction to hand over the project to the association of homebuyers under Section 8 of RERA, 2016. Upon lapse of the registration or on revocation of the registration under this Act, the Authority, may consult the appropriate Government to take such action as it may deem fit including the carrying out of the remaining development works by competent authority or by the association of allottees or in any other manner, as may be determined by the Authority: Provided that no direction, decision or order of the Authority under this section shall take effect until the expiry of the period of appeal provided under the provisions of this Act: Provided further that in case of revocation of registration of a project under this Act, the association of allottees shall have the first right of refusal for carrying out of the remaining development works. Accordingly, the Authority permitted the Association of Homebuyers, under Section 8, to take over the project and complete it within 8 months, with an additional 6-month grace period.