Latest from our Real Estate Blog
National commission directed builder to pay heavy damage for duping the consumer
Booking a flat on the 60th floor proved to be a painful deal for a homebuyer couple who was not delivered a flat as promised by Mumbai based builder Lodha Crown Buildmart Private Limited. When the couple homebuyer decided to own a flat in Lodha, little did they know
Supreme court enhanced award of compensation and said it cannot go restrictive just because the victim is from poor and rural background
The Supreme Court awarded an additional Rs 10 lakh in a medical negligence case to a lady who was not immediately attended to and was snubbed with the retort that the people from hilly areas make unnecessary noise. The petitioner Shoda Devi had filed the plea before the apex
Builders Can’t Give Excuse Of Approvals, Delay Flats On The Ground Of Force Majeure
The apex consumer commission has ordered that a builder can’t hide behind the excuses of not getting approvals from authorities, hurdles in land acquisition or any other difficulty, for delay in delivery of flats to home buyers. The National Commission, in its recent order dated 12th December 2018
Home Loans – Requirements and Eligibility
When you have made up your mind to take a home loan, it is important to note down all the eligibility conditions. You need to determine your repayment capacity and review your monthly income/surplus. The higher the monthly disposable income the higher the loan amount you can be
Different types of Home Loans in India
Home loans are a step to convert your dream property into reality. There are many types of loans available in India. Investing in house is always a safe and smart move. The value of land always grows and thus appreciation for the investment can be visibly seen within
Homebuyers can seek higher compensation than what is mentioned in agreement for delayed flat: National Commission
Recently, the Apex Consumer Court has passed an encouraging order for consumers whereby it held that builders can’t take advantage of the builder-buyer agreement to pay Rs. 5 per sq. feet per month as compensation for delay in handing over flats for unreasonable period. The buyers have the
A tale of three builders – Unitech, Amarpali and Jaypee and many many homebuyers
The months of August and September 2018 turned out to be a crucial time for three real estate giants – namely Unitech, Amrapali and Jaypee – as the Supreme Court passed orders against them in three different cases. That notwithstanding, the question remains: are homebuyers protected from errant
SC remands Jaypee matter to NCLT leaving homebuyers in an unresolved state
In a setback for the harassed homebuyers in Jaypee’s projects, the Supreme Court remanded the matter back to the National Company Law Tribunal (NCLT). While homebuyers are now upset considering no conclusive resolution is in sight, the SC has said that homebuyers should be included in the committee of creditors in
Case Study: PROVISIONS OF RERA WOULD BE APPLICABLE TO LONG TERM ‘LEASE AGREEMENTS’ by Lavasa WHERE SUBSTANTIAL INVESTMENT IS MADE: BOMBAY HIGH COURT
In a recent pronouncement, the Bombay High Court has held that provisions of the Real Estate (Regulation and Development) Act, would apply in case of agreements styled as ‘Agreement to Lease’ will apply in case of agreements styled as ‘agreement of lease’ when the lease period is long and
CONFLICT BETWEEN THE PROVISIONS OF INSOLVENCY AND BANKRUPTCY CODE, 2016 AND REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, 2016
In recent years, multiple laws have been enacted to consolidate the various sectors and functioning of the country’s economy. Examples include Insolvency and Bankruptcy Code, 2016, Real Estate (Regulation and Development) Act, 2016 (RERA), and Goods and Services Tax Act, 2017. Quite inevitably, some provisions of the different laws are
If there are deficiencies in your flat, complain within 2 Years of possession
Any complaint against the builder must be made within 2 years of taking possession of the flat. If the buyer delays in filing of case against the builder for late delivery or other shortcomings in the flat, it is bound to be dismissed on
Case Studies: Flat buyers can unite as one party against builders under Section 12 of CPA Act
This article will showcase case studies on flat buyers who can unite as one party against builders under section 12 of CPA Act.In a major relief for aggrieved homebuyers, justices Dipak Misra, AM Khanwilkar and MM Shantanagoudar of the Supreme Court have ruled (in
Arbitration agreements cannot oust the jurisdiction of consumer forums
In a recent judgement, the Supreme Court affirmed that arbitration agreements cannot oust the jurisdiction of consumer forums. The order will benefit homebuyers who usually have an arbitration clause in their agreements with the real estate companies. Such clauses lay down that in cases of disputes, aggrieved consumers will have to
Bombay High Court repels builders’ challenge to Real Estate Regulation ACT
The new judgement by the Bombay High Court upholding the constitutional validity of the RERA Act or Real Estate (Regulation and Development) Act, 2016 rhas brought cheer to the thousands of homebuyers staring at uncertainty due to unfinished and delayed building projects all over India. The parliament had
Tennis star Sharapova charged with cheating and conspiracy
Five-time Grand Slam champion Maria Sharapova has been charged with cheating and conspiracy by Gurugram police. As per the complaint, Sharapova had endorsed a proposed luxury housing project in Gurugram that was later abandoned by the builders, duping hundreds of investors and buyers.
In 2012, Sharapova had launched
Supreme Court cautions Unitech homebuyers: Consumers Don’t Expect to Profit from Your Loss
The dispute between homebuyers and real estate players has now skewed in favour of homebuyers, thanks to various Supreme Court judgements. The apex court acknowledges the suffering that homebuyers are going through for not receiving the possession of their flats. At the same time, it is important to
Relief for Buyers as Supreme Court stays Insolvency Proceedings Against Jaypee
Here is some relief for home buyers of Jaypee Infratech as the Supreme Court on September 4th, 2017 stayed the insolvency proceedings against Jaypee Infratech after the judgment passed by National Company Law Tribunal, Allahabad at the instance of IDBI Bank Limited. Being unsecured creditors as opposed to
Sahara ordered to refund Rs 84 lakh to 12 homebuyers
The district consumer court in Pune has directed Sahara Prime City Limited, a project by Sahara India in Dhanori, to refund a total of Rs 84 lakh with 9 per cent per annum interest and Rs 5,000 cost to each of 12 homebuyers for deficient service.
Section 12 Consumer Protection Act – Legal Boost to Unionisation of Consumers
Corresponding with the increase in exploitation of flat buyers by several unscrupulous builders, a large number of buyers have commenced litigation against builders. Since it may be difficult to fight a builder alone, consumers have taken advantage of the provision under Section 12 (1) (b) of Consumer Protection
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