SC says RERA can delegate powers to listen to homebuyer complaints
Real Estate

SC says RERA can delegate powers to listen to homebuyer complaints

The Supreme Court has said that the Real Estate Regulatory Authority (RERA) can transfer its powers to a single member to listen to the complaints from homebuyers against builders.

A three-judge bench headed by Justice U U Lalit said that Section 81 of the Real Estate (Regulation and Development) Act, 2016 enables the authority to transfer its functions and power to any of its members by general or special order.

The top court said that the scheme of the Act, 2016 renders an in-built mechanism and any order passed on a complaint by the authority is appealable if any clear error is left by the authority either in computation or in the amount refundable to the homebuyer or allottee.

The apex court said that the Real Estate (Regulation and Development) Act, 2016 (RERA) is retroactive (taking effect from a date in the past) in nature and includes all ongoing projects for which a completion certificate has not been released.

The top court said that the legislative intent is to make the Act applicable not just to the projects which were yet to begin after the Act became operational but additionally to bring under its fold the continuing projects and to preserve from its inception the rights of the stakeholders.

The unambiguous language of the statute is retroactive in operation. The legislature consciously set a retroactive statute to ensure the sale of plot, flat or building, realty projects is done effectively and transparently so that the interest of consumers in the realty sector is preserved by all means.

The bench, additionally including Justices Ajay Rastogi and Aniruddha Bose, made it clear that the value which has been decided and refundable to the allottees or homebuyers either by the authority or the adjudicating officer in terms of the order is recoverable within the ambit of Section 40(1) of the Act.

The judgment dated November 11 came on a plea filed by Newtech Promoters and Developers against an Allahabad High Court order which rejected its appeal against an order of a single member of the Uttar Pradesh Real Estate Regulatory Authority (Authority).

As per the order, the company was ordered to refund the principal sum along with interest to homebuyers who were not given possession of apartments on time.

Image Source

Also read: TN RERA to resolve complaints against projects made before 2016

The Supreme Court has said that the Real Estate Regulatory Authority (RERA) can transfer its powers to a single member to listen to the complaints from homebuyers against builders. A three-judge bench headed by Justice U U Lalit said that Section 81 of the Real Estate (Regulation and Development) Act, 2016 enables the authority to transfer its functions and power to any of its members by general or special order. The top court said that the scheme of the Act, 2016 renders an in-built mechanism and any order passed on a complaint by the authority is appealable if any clear error is left by the authority either in computation or in the amount refundable to the homebuyer or allottee. The apex court said that the Real Estate (Regulation and Development) Act, 2016 (RERA) is retroactive (taking effect from a date in the past) in nature and includes all ongoing projects for which a completion certificate has not been released. The top court said that the legislative intent is to make the Act applicable not just to the projects which were yet to begin after the Act became operational but additionally to bring under its fold the continuing projects and to preserve from its inception the rights of the stakeholders. The unambiguous language of the statute is retroactive in operation. The legislature consciously set a retroactive statute to ensure the sale of plot, flat or building, realty projects is done effectively and transparently so that the interest of consumers in the realty sector is preserved by all means. The bench, additionally including Justices Ajay Rastogi and Aniruddha Bose, made it clear that the value which has been decided and refundable to the allottees or homebuyers either by the authority or the adjudicating officer in terms of the order is recoverable within the ambit of Section 40(1) of the Act. The judgment dated November 11 came on a plea filed by Newtech Promoters and Developers against an Allahabad High Court order which rejected its appeal against an order of a single member of the Uttar Pradesh Real Estate Regulatory Authority (Authority). As per the order, the company was ordered to refund the principal sum along with interest to homebuyers who were not given possession of apartments on time. Image Source Also read: TN RERA to resolve complaints against projects made before 2016

Next Story
Real Estate

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Next Story
Infrastructure Energy

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Next Story
Infrastructure Energy

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?