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Submission of proforma of the allotment letter and agreement for sale at the time of registration of a real estate project in compliance of Clause (g) of Sub-section 2 of Section 4 of the Real Estate (Regulation and Development) Act, 2016.
The Arbitration & Conciliation Act, 1996 is in addition to other remedies available and not in derogation to The Real Estate (Regulation and Development) Act, 2016.
Since the registration was obtained for the subject projects post the introduction of Goods and Services Tax only, the provisions of Section 171 dealing with Anti-profiteering could not be made applicable to the said projects in the view of the fact that there was no additional ITC that had been made available to the Respondent,
Every promoter at the time of registration of a real estate project in addition to providing the bank details of the separate bank account in the application for registration shall provide a Declaration about the separate bank account for the real estate project on the Letterhead of the promoter in the manner as detailed in Format ‘A’ annexed hereto.
Explore the causes of litigation under the Real Estate (Regulation & Development) Act, 2016 (RERA). Understand issues like delay in possession, non-disclosure of carpet area, and diversion of funds. Learn about legal remedies, due dates for filing complaints, and relevant case laws. Stay informed to protect your rights in the real estate market.
A common question that arises in the real estate sector is whether the RERA judgments are applicable to transactions concluded before the date of judgement.
Complaint in this case arose out of allotment of incomplete apartments in a project where developer failed to obtain Occupancy Certificate
Section 3 of the RERA, a builder who does not register will be unable to sell the apartment, plot, or building. The following real estate projects are exempt from registration under Section 3 of the RERA if the land size does not exceed 500 square meters or the number of apartments does not exceed 8.
The RERA Act, 2016 is a comparatively recent legislation. The provisions established have been done so with due diligence to all possible legal scenarios and a wide pallet of recourses have also been mentioned. That being said, disputes still arise due to the advancement in transaction methods, technology, market factors and so on.
In case the promoter fails to register the said project or there is a breach committed by him/her, there will be a penalty imposed on him up to the extent of 10% of the estimated cost of the project.
