Introduction The Indian real estate sector has long been plagued by project delays, financial mismanagement, and instances of developers defaulting on their obligations. One of the most pressing concerns for homebuyers arises when a developer goes bankrupt, leaving buyers in financial distress with little to no recourse. While the Insolvency and Bankruptcy Code (IBC), 2016 was a significant step...

The Real Estate (Regulation and Development) Act, 2016 (RERA) was introduced to bring transparency, accountability, and fairness to the real estate sector in India. One of the key areas RERA addresses is the issue of misleading advertisements by real estate developers. Misleading advertisements can lead to significant financial and emotional distress for homebuyers, and RERA has laid down strict...

The Insolvency and Bankruptcy Code (IBC), introduced in 2016, was designed to streamline insolvency proceedings and protect the interests of all stakeholders. However, in the real estate sector, the application of IBC has revealed certain challenges that often lead to delays, financial burdens, and significant stress for homebuyers and investors. In this blog, we will explore how the misuse of IBC...

The Real Estate (Regulation and Development) Act, 2016 (RERA), was introduced to bring much-needed transparency and accountability to the real estate sector in India. While it has empowered homebuyers to a significant extent, there’s still a glaring issue that remains unaddressed: accountability for real estate projects is limited almost exclusively to the promoter. This leaves homebuyers vulnerable...

When investing in a real estate project, buyers often trust big, well-known builder names. These companies build their reputations over years and project an image of reliability and quality. However, not everything that glitters is gold. A troubling practice is becoming more common in the real estate market, leaving homebuyers and investors vulnerable: builders registering projects under their subsidiary...

Noida’s Sports Cities, envisioned as a unique blend of urban living and world-class sports infrastructure, were launched with grand promises of nine-hole golf courses, cricket stadiums, and vast recreational spaces. A decade later, the dream remains unfulfilled, marked by incomplete projects, regulatory challenges, and legal hurdles. Recent legal developments surrounding the registry ban imposed by...

The RERA (Real Estate (Regulation and Development) Act, 2016) specifies provisions for maintaining a project-specific bank account under the "70:30 rule." This ensures accountability and financial discipline for real estate projects. Here's a summary of the relevant provisions. Under the RERA framework, the requirement for maintaining financial discipline are implemented using specific types of bank...