Delayed Project News Today

Buyers said that they could not take possession of their flats because contrary to what the developer had told the apex court, many flats were not ready for possession as they did not have an OC, which is mandatory prior to handing over possession.

While the developer was ready to refund the initial amount paid by the homebuyer, the authority ordered the developer to sign the sale deed and handover the plot.

Refuting the claims of the developer that when possession is offered

Karnataka RERA said that companies that are not commercially sustainable should not be held in resolution for extended periods.

Homebuyers in projects delayed by up to four years in Bengaluru are waiting for their money to be recovered by the state under the orders of the Karnataka RERA. Experts say they have identified the critical problem and are advising the government on faster recoveries.

Delayed possession: MahaRERA has said that a complaint for delayed handing over by the developer can attract provisions of Section 18 of the RERA Act (compensation) only if the delay is ongoing at the time of filing the complaint.

The Authority said the completion certificate, obtained by the Mantri Group before RERA was enacted, did not contain the name of the project. Additionally, it said the project clearances were obtained after the enactment of RERA.

The court said that offences under the Prevention of Money Laundering Act, 2002, cannot independently stand after the quashing of the FIR

In this case, the homebuyer had booked an apartment in the Sobha Valley View project in south Bengaluru for Rs 1.5 crore.

Delayed projects, or projects that have not met the completion deadline might have to face a suspension or revocation of their registrations with RERA.