Delhi REAT Holds Homebuyer Who Booked Flat Under Buy-Back Scheme As Allottee, Remands Matter To Delhi RERA

Real Estate Appellate Tribunal, NCT of Delhi (Tribunal) comprising of Justice Chander Shekhar (Chairperson) and Lorren Bamniyal (Judicial Member) held in favour of the homebuyer who had booked a flat under the Buy Back scheme. The Tribunal concluded that the homebuyer falls within the definition of 'allottee' and remanded the matter to the NCT Delhi Real Estate Regulatory...

Telangana RERA Penalises Builder For Unilaterally Cancelling Homebuyers Allotment, Also Holds Real Estate Agent Liable

Telangana Real Estate Regulatory Authority (Authority) bench, comprising K. Srinivasa Rao (Member) and Laxmi Narayana Jannu (Member) has imposed a penalty of Rs. 8.57 lakh each on the builder and the real estate agent for unilaterally canceling the allotment of the homebuyer and violating the provisions of the RERA, 2016. Background Facts The homebuyers purchased flats in the...

Haryana RERA Directs Imperia Structures To Pay Assured Returns To Complainant

Haryana Real Estate Regulatory Authority (Authority) bench, comprising Vijay Kumar Goyal (Member) directed Imperia Structures to pay assured returns to complainant who purchased an office in their project under the Assured Returns scheme. Assured returns projects are schemes where builders promise to pay a fixed amount to homebuyers at regular intervals (usually monthly) for a...

West Bengal REAT Restrains Yes Bank From Taking Possession Of Flats And Selling Them At Auction To Recover Loan Provided To Builder

West Bengal Real Estate Appellate Tribunal (Tribunal), comprising Justice Rabindranath Samanta (Chairperson), Gour Sunder Banerjee (Judicial Member) and Dr. Subrat Mukherjee (Administrative Member) restrained Yes Bank from taking possession of the flats and selling them at auction to recover the loan provided to the builder. Background Facts Yes Bank filed eight appeals before the...

Haryana RERA Orders Emaar MGF To Pay Interest To Homebuyer For Delayed Possession

Haryana Real Estate Regulatory Authority (Authority) bench, comprising Vijay Kumar Goyal (Member) has directed Emaar MGF Land Limited to pay interest to the homebuyer for the delay in handing over possession. Background Facts Homebuyer (Complainant) purchased a flat measuring 1,720 sq. ft. in the builder's (Respondent) project named "Palm Gardens" located in Sector 83,...

Karnataka RERA Directs Mantri Developers To Refund Rs. 22.34 Lakh To Homebuyer For Delayed Possession

Karnataka Real Estate Regulatory Authority (Authority) bench, comprising GR Reddy (Member) has directed Mantri Developers to refund Rs. 22.34 Lakhs to the homebuyer for the delayed possession. Background Facts Homebuyer (complainant) booked a flat in the builder's (respondent) project named "Mantri Webcity 3C" located in Bangalore South, Bengaluru Urban in 2017 under the 10:90...

Failure To Protect Sensitive Data Leads To Unauthorized Transactions; Adjudicating Officer Holds Axis Bank Liable

The Adjudicating Officer at Mantralaya Mumbai under the Information Technology Act held Axis Bank Ltd. liable for negligence in a matter involving unauthorized transactions from the current account of Dhule Vikas Sahakari Bank Pvt Ltd maintained with the Axis Bank. It was observed that the failure to maintain reasonable security safeguards and implementing adequate measures...

Haryana REAT Dismisses TDI Infrastructure's Application For Condonation Of 193-Day Delay In Filing Appeal

The Haryana Real Estate Appellate Tribunal (Tribunal) comprising of bench of Justice Rajan Gupta (Chairman) and Shri Rakesh Manocha (Technical Member) has dismissed the TDI Infrastructure application for condonation of a 193-day delay in filing the appeal before the Tribunal. Tribunal observed that the reasons provided by the builder for the delay in filing the appeal were unconvincing...

Karnataka RERA Directs Ozone Urbana Infra Developers To Refund Rs. 61.6 Lakh To Homebuyer For Delayed Possession

Karnataka Real Estate Regulatory Authority (Authority) bench, comprising GR Reddy (Member) has directed Ozone Urbana Infra Developers to refund Rs. 61.6 Lakhs to the homebuyer for the delayed possession. Background facts The homebuyer (Complainant) entered into an agreement for sale to purchase a flat in the builder's (Respondent) project named Ozone Urbana on July 10, 2018. Later,...

Karnataka RERA Holds Shriram Properties Liable For Delayed Possession, Orders 12.77 Lakhs Interest To Homebuyer

Karnataka Real Estate Regulatory Authority (Authority) bench, comprising GR Reddy (Member), has directed Shriram Properties to pay Rs. 12.77 Lakhs to the homebuyer as interest for delay in handing over possession of the flat. Background Facts Homebuyer (Complainant) purchased a flat in the builder's (Respondent) project named Shriram Summitt by entering into an agreement for sale...

Competition Commission Closes Complaint Against Honda Motorcycle Filed By Former Dealer, Holds Dispute To Be Commercial In Nature

The Competition Commission of India (Commission) bench, comprising Ms. Ravneet Kaur (Chairperson), Mr. Anil Agrawal (Member), Ms. Sweta Kakkad (Member) and Mr. Deepak Anurag (Member) has closed the complaint filed against Honda Motorcycle & Scooter India by its former dealer. The bench found that the facts of the complaint pertain to commercial disputes arising from the agreement and...

MahaRERA Directs Lucina Land Development To Refund Homebuyer's Money After Deducting 2% Of Total Consideration

Maharashtra Real Estate Regulatory Authority (Authority) bench, comprising Mahesh Pathak (Member – I), has directed Lucina Land Development to refund the amount paid by homebuyer without interest after deducting 2% of the total consideration. Background Facts Homebuyer (Complainant) booked a flat in the builder's (Respondent) project named Indiabulls Green, located in...