RERA Master

Posts

RERA ordered 60 days of Civil Imprisonment for a Builder

Ramesh Agrawal (LL.B. & CA) Real Estate Regulatory Authority (RERA), Gurgaon has given 60 Days civil imprisonment to the owner / Director of a Builder Company namely International Land Developers (ILD) in a contempt case. Adjudicating Officer (AO) of RERA, Gurgaon ordered to Superintendent of District Jail, Bhondsi stating “You are hereby authorised to detain Salman Akbar in civil imprisonment for 60 days… you are directed to produce him on 60th day of his detention before the adjudicating officer.” An arrest warrant was issued earlier on 31st October by the court to produce Salman Akbar on or before December 21, 2022. As per the officials the matter is of January 2013, when the complainant booked a unit in ILD Spire Greens, Sector 37 Gurgaon & an agreement was execute. Builder Company ( ILD ) was supposed to give possession in July 2016, but they failed. In November 2018, allottee filed a complaint in RERA court alleging delay by the promoter in giving possession. Authority

RERA ordered to Refund Homebuyer with Interest

Ramesh Agrawal (LL.B. & CA) Haryana Real Estate Regulatory Authority (HRERA) of Gurugram Bench has given directions to International Land Developers (ILD) to refund the homebuyer’s money along with Interest as it has failed to deliver the property in time. Abstract of the Order of RERA :- "The authority hereby directs the promoter (ILD) to return the amount received by him from the allottee with interest at the rate as prescribed under the rule 15 of the Haryana real estate (regulation and development) Rules 2017 from the date of each payment till the actual date of refund of the amount within the timelines provided in the rule 16 of the Haryana Rules 2017,". As per Rule 16 of Haryana Rules 2017, any refund payable to homebuyer by builder should be refunded within 90 days from the date of on which refund has been ordered by the Authority. Apartment in ILD Arete project was booked by the homebuyer on 10 th June 2015 & possession was committed by 10 th December 2019

Forgery cases against many Builders

Ramesh Agrawal ( LL.B. & CA) Police have registered cases cheating against 27 Builders of Thane, Maharashtra for allegedly forging documents for the registration of their projects with Real Estate Regulatory Authority (RERA). Police officials told that accused have allegedly cheated home buyers from 27 Villages & Kalyan Dombivli Municipal Corporation (KDMC) as a part of racket. The accused forged the documents to show that the proper permission was taken from Kalyan Dombivli Municipal Corporation for the construction of house & based on that they got the RERA Registration. The developers were involved in fraud from 2017 to 2022 & each homebuyer paid somewhere around Rs. 25 lakhs to 35 lakhs for a home. A case has been registered for the above case, but no arrest has been made so far.

Homebuyers Benefited from RERA but a long way to go

CA Ramesh Agrawal The Real Estate Regulation & Development Act, 2016 (RERA) was passed in the Parliament in March 2016 & it came into effect from 1 st May 2016. In May 2022, RERA completed 6 Years. RERA law, various decisions of Hon. Supreme Court and other judicial forums like NCDRC, NCLT has substantially empowered the India’s Homebuyers. Modi govt realised that the homebuyers were being cheated by many builders and these builders need to be brought to justice thus brought such laws. Initial few years after implementation of RERA was spent getting the legal structure in place. Currently Regulatory Authorities & Appellate Tribunals have started taking stringent action in many cases if not in all cases. In many of the cases, remarkable decisions have been taken by the RERA Authorities. Many homebuyers have got justice through RERA and other courts. In a case of Gurugram, RERA issued arrest warrants against the directors of a Real Estate Company and in another case, it dire

Builder arrested for Cheating Homebuyers

CA Ramesh Agrawal The Delhi Police’s Economic Offences Wing (EOW) has arrested a Builder who has cheated 31 persons of more than 10 Crores for booking of flats & shops at a real estate project in Haryana’s Rewari. Deepak Gusain, a resident of Ghaziabad in Uttar Pradesh is the accused who has been absconding for a long time & look out notice was issued for him. As per the officials, Pankaj Gusain advertised for booking of flats & shops in real estate project in Rewari for his company named “Asian Developers Private Limited” in 2012. Buyers made bookings & regular payments were made by them, but the construction was stopped by builder in April 2014. The facts were misrepresented by the Builder before the public at large which induced them to invest in the project. Builder assured the investors for timely possession within 27 Months but after some time the construction was stopped & the builder went untr

RERA orders 17 Builders to Refund 50 Crores to Home Buyers

CA Ramesh Agrawal Haryana Real Estate Regulatory Authority (HRERA) have ordered 17 Builders, to refund Rs. 50 Crores to the homebuyers of various construction projects for non-delivering the projects well on time. HRERA has issued multiple orders for 17 Builders directing them to refund the home buyers their hard-earned money along with 9.70% Interest within 90 days. Refund orders have been passed after listening to both the parties i.e., Homebuyers & Builders & on finding out that builders were guilty. Approx 300 matters were listed before the authority for adjudication in July. In 63 Cases, The Authority ordered refunds with interest @ 9.70%. These Adjudications are related to 17 Builders & refund is approx 50 crores. Raheja Developers alone has to refund Approx 12 crores to 11 Homebuyers, & out of which 1 Refund is for Rs. 2.35 Crores. In another 15 matters, the authority ordered refund after the ded