[REAL ESTATE NEWS] Good morning, everyone. I¡¯m Youngjae Ko representative of Kamaindia Pvt. Ltd.
Here I have an important Indian real estate news to share with you which is as under mentioned.
HOMEBUYERS CONFRONT PETITION CHALLENGING LEGALITY OF RERA
MUMBAI: Homebuyers have confronted realty developers¡¯ petition challenging the legal validity of RERA and some of its provisions. A pan-India homebuyers¡¯ pressure group Fight for RERA, that has now formed a non-profit company Forum for People¡¯s Collective Efforts (FPCE), has filed an impleadment application in the Bombay High Court.
Several builders had filed cases in high courts of Bombay, Nagpur, Aurangabad, Bangalore, Jabalpur to challenge the recently enacted Real Estate (Regulation & Development) Act, 2016, and few of its provisions including applicability for ongoing projects. The government of India had filed a Transfer Petition in the Supreme Court seeking directive that all similar cases in various courts be clubbed and heard by the apex court.