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Homebuyers' body FPCE on Wednesday said real estate regulatory authorities in states have failed to properly implement realty law RERA and pointed out that an estimated 27.6 lakh homebuyers are stuck with delayed projects across the country. On the completion of ten years of the Real Estate (Regulation and Development) Act, 2016 (RERA), the Forum For People's Collective Efforts (FPCE) has come out with a 192-page report 'RERA Extension Abuse: How Regulatory Failure Is Betraying India's Homebuyers'. Parliament enacted the Act to regulate the contractual relationship between homebuyers and promoters. The RERA aims to ensure transparency and accountability in the real estate sector, thereby protecting the interests of homebuyers. In its report, FPCE President Abhay Upadhyay said, "RERA has not failed as a statute. Its enforcement has. And when enforcement weakens, even the strongest law fails in practice." Based on Ministry of Housing and Urban Affairs' RERA Tracker data (March 2, 202
The Supreme Court on Thursday deferred by three months the hearing on a plea seeking refund to homebuyers of the now-razed twin-towers of real estate firm Supertech in Noida. A bench comprising Chief Justice Surya Kant and justices Joymalya Bagchi and V Mohana took note of the submissions that efforts were on to satisfy the claim of the homebuyers, who have not opted for alternative allotment. The bench deferred the hearing after it was told that three months' time be given to explore other options to satisfy the claims of the homebuyers. A lawyer, representing a few homebuyers, said they are not getting the refund and the last payment was made way back in 2024. Earlier, the top court had said homebuyers of the now-razed twin-towers will be refunded on a pro-rata basis from the amount deposited by the Interim Resolution Professional (IRP). The real estate company is facing insolvency proceedings under the IBC. The twin-towers at Emerald Court Project in Sector 93A of Noida were pu
The Supreme Court has said that a homebuyer can seek adjudication of his claim for compensation for the delay in delivery of the flat even after getting its possession. The apex court set aside a 2016 order of the National Consumer Disputes Redressal Commission (NCDRC), which said that the appellant was not a consumer at the time of filing his complaint alleging a deficiency in service on account of the delay in handing over the possession of the flat, since he had already taken its possession without protest. A bench of Justices Vikram Nath and V Mohana passed the order on a plea by a homebuyer, who became a member of a cooperative group housing society in Delhi in January 2003 and was allotted a flat, challenging the NCDRC's order. The top court observed that a claim for compensation for delayed possession necessarily arises from the period prior to the actual delivery of possession. "The subsequent receipt of possession cannot, by itself, extinguish the right of the allottee to
The Enforcement Directorate on Saturday conducted fresh searches against real estate company Raheja Developers as part of a money laundering investigation linked to alleged fraud with home buyers. They said about seven premises in Delhi-NCR are being covered as part of the action. The searches are being conducted in the matter of alleged fraud with the home buyers and non delivery of flats in its project Raheja Revanta, as per the officials. The agency had raided the company in June 2025 as part of this probe.
The Supreme Court on Thursday ruled that homebuyers' societies or Resident Welfare Associations (RWAs) ordinarily constituted for maintenance and management of common facilities in a housing project cannot intervene in the insolvency proceedings of the developer company. A bench of justices JB Pardiwala and R Mahdevan, which upheld the insolvency proceedings related to Takshashila Heights India Private Ltd under the Insolvency and Bankruptcy Code of 2016, said if creditors elect to invoke the provisions of the code, they must do so with a genuine willingness to pursue revival of the corporate debtor. It said, "Should revival not be their objective, the Code cannot be converted into a tool for expedient recovery; alternative statutory remedies, including under SARFAESI or other applicable laws, remain available in accordance with law." The bench upheld the rejection of intervention application by National Company Law Appellate Tribunal (NCLAT) of Elegna Co-operative Housing and ...