Recent changes to CIRP Regulations streamline the process by allowing the handover of the unit’s possession to homebuyers while the resolution process is still ongoing.
The Insolvency and Bankruptcy Board of India has brought in certain amendments to streamline and optimise the insolvency resolution process.
In Tamil Nadu, the revised fee structure ostensibly proposes a ‘reduction’ in stamp duty and registration fee for the first sale of flats.
The Tamil Nadu Apartment Ownership Act, 2022, seeks to address the issues not comprehensively touched upon or dealt with by the 1994 Act.
Though IBBI’s paper addresses the issues faced in the insolvency processes of real estate projects, the draft regulations need fine-tuning.
This article analyses the various legal remedies available and the forum that would best redress the buyers’ concerns.
The Supreme Court issued an important verdict on May 4, 2021, when it declared that the West Bengal Housing Industry Regulatory Act, 2017 (WB-HIRA) is “repugnant” to the Parliamentary law of Real Estate (Regulation and Development) Act, 2016 (RERA).
