BPTP Spacio buyers to approach H-RERA as builder seeks escalation fee
Buyers plan to request authorities to look into the matter and help expedite payment of 12% of the cost as delayed penalty for those who have paid 95% or above of the cost, as well as zero escalation charge. The project was launched in 2010.
Builder defied deal? Homebuyers have to approach UP-Rera again
UP-Rera member Balvinder Kumar said a complainant is given two options on the ...
If home buyer opts out, builder must refund most amount: NCDRC
The National Consumer Disputes Redressal Commission said one-year delay in com...
'4 years on, Rera rules still patchy, need rework'
Experts said a lot more needs to be done on ground to make any noticeable change for consumers. However, it's widely observed that the landmark regulation has made the real estate sector more transparent, standardised and efficient.
Home sales in IT hubs at a third of pre-lockdown levels
Sales were already weak when the lockdown was clamped, affecting walk-ins in April and causing postponement of purchasing discussions that were at advanced stages. Construction activity and new launches had come to a complete halt in March and April.
Jaypee home buyers want to be in monitoring committee
Meanwhile, a homebuyers’ association has appealed to the NCLAT to be made a party in the interim monitoring committee that will look into the day-to-day affairs of the builder company.
About 3,200 buyers of Jaypee Kove, Kaffia, and Buddh Circuit Residency seek refund
The residential projects in Sector 25 of the Yamuna Expressway region were supposed to be completed by 2017. However, no construction activity has taken place at the project sites till date. According to YEIDA, the builder has so far only paid up only Rs 55 crore.
UP-RERA allows JAL's proposal to complete Jaypee Kalypso Court phase II
With a view to facilitate the completion of the project in a time bound manner, the authority has accepted the proposal of the promoter in the interest of the allottees of the project. As per JAL, the project can be completed within 18 months.
Lockdown: UP-RERA invokes 'force majeure', builders get 6-month extension to complete projects
The six months extension will also be provided to such projects that have already availed one-year extension as provided in the RERA Act on or after March 25. UP RERA Secretary Abrar Ahmed said no fees will be charged from the promoters for the extension.
Gurugram: 12 years on, Ardee buyers wait for registry of homes
Residents claimed they have been raising the issue at multiple forums to no avail. The issue was also raised before chief minister Manohar Lal Khattar during a grievance committee meeting on February 15.
After builders’ appeals, Rera will relax delivery timelines
Naredco-UP, a body of realtors, wrote to Rera on Monday that it couldn’t honour the timelines set by the regulatory body as work on all projects have been stalled in the aftermath of the lockdown. It asked for a fresh set of timelines.
COVID-19 impact: Most prospective homebuyers prefer reputed pvt builders, govt authorities
"COVID-19 has changed buyer preferences with more people now preferring risk-free investments. 62 per cent prospective buyers prefer to buy a home from leading developers with least project execution risks even if the property is relatively higher priced," Anarock said in a report.
Demand spikes for larger houses in Bengaluru
Queries at property builders in Bangalore showed that space and size have pushed utility down the priority rung. Builders and brokers have noticed a spike in queries for ready-to-move larger homes priced between Rs 80 lakhs and Rs 1 crore after the Covid-19 outbreak.
Karnataka RERA: Home buyers’ consent now a must to alter building plan
The government has issued a notification making buyers’ consent mandatory for changing the plan approved by the Karnataka Real Estate Regulatory Authority.
Maharashtra Real Estate Tribunal says booking amount forfeiture unfair due to inequitable, one-sided pacts
Maharashtra Real Estate Tribunal rules in homebuyers’ favour to get booking amount refund.