{"id":25872,"date":"2021-12-30T16:47:39","date_gmt":"2021-12-30T11:17:39","guid":{"rendered":"https:\/\/plyinsight.com\/?p=25872"},"modified":"2022-01-03T11:21:02","modified_gmt":"2022-01-03T05:51:02","slug":"sc-verdict-to-protect-homebuyers-make-realtors-toe-the-line","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/sc-verdict-to-protect-homebuyers-make-realtors-toe-the-line\/","title":{"rendered":"SC Verdict to Protect Homebuyers, Make Realtors Toe the Line"},"content":{"rendered":"<p><span style=\"color: #800000;\"><strong>The Supreme Court&#8217;s (SC&#8217;s) recent verdict upholding the jurisdiction of the Real Estate (Regulation &amp; Development) Act, 2016, or RERA, in two different matters is expected to help homebuyers escape unnecessary harassment and put pressure on unscrupulous developers to toe the line.<\/strong><\/span><\/p>\n<p>Firstly, the SC&#8217;s verdict \u2014 upholding the jurisdiction of RERA on all realty projects that were ongoing and had not received completion certificate until the law came into effect \u2014 is now expected to trigger a major change in state-specific rules modelled on this Act.<\/p>\n<p>The &#8216;ongoing projects&#8217; included launches which had not obtained &#8216;completion certificate&#8217; from civic agencies when the RERA Act was notified in the country.<\/p>\n<p>\u201cThe &#8216;ongoing projects&#8217; were deliberately brought within the ambit of RERA at a time when the development of real estate projects was not regulated and homebuyers were suffering from mounting incomplete inventory in the real estate industry,\u201d said Experts.<\/p>\n<p>While some states have defined and expanded the ambit of &#8216;ongoing projects&#8217; in their RERA rules, the essence of the central legislation could not have been diluted.<\/p>\n<p>\u201cThat is why in the Newtech judgment, the SC upheld this facet of the RERA Act, as well as the constitutionality of applicability of RERA to &#8216;ongoing projects&#8217;. This has been done keeping in mind that such &#8216;ongoing projects&#8217; are necessarily required to be brought within the purview of the RERA to protect the interests of homebuyers. This is the only way to ensure timely completion of delayed and under-construction projects,\u201d<\/p>\n<p>This verdict by the apex court reaffirms the faith of several homebuyers who were otherwise being taken for a ride, and the court through this verdict has given more powers to RERA.<\/p>\n<p>\u201cThe RERA rules were diluted in many states and being misused by some developers. Many under-construction projects that had still been not completed till the RERA implementation didn&#8217;t come under its ambit. Now with the SC verdict, these under-construction projects, too, will come under RERA and thereby benefit homebuyers in the long run,\u201d<\/p>\n<p>The sector might see increased completion of residential projects in times to come.<\/p>\n<p>\u201cDevelopers of many of the under-construction projects that didn&#8217;t fall within the ambit of RERA moved on and began to focus on their projects under RERA. Now with all such projects under RERA, they will have to complete these projects. Therefore, we may see reduction in the number of units that have been heavily delayed or completely stalled,\u201d<\/p>\n<p>According to the Anarock data, as of July, nearly 629,000 housing units were in various stages of (non)-completion across the top seven cities. These homes were launched in 2014 or earlier and were either heavily delayed or completely stalled.<\/p>\n<p><strong>Experts opined that the comfort they had with regard to RERA implementation was limited to particular states and fund flows were crimped in states, such as West Bengal, that did not have proper RERA implementation.<\/strong><\/p>\n<p><strong>\u201cIt was becoming impossible for investors and purchasers to understand the implementation of RERA in different states. It is important to standardise the law across states,\u201d<\/strong><\/p>\n<hr \/>\n<h3 style=\"text-align: center;\"><strong><span style=\"color: #800000;\">\u0928\u094d\u092f\u093e\u092f\u093e\u0932\u092f \u0915\u0947 \u092b\u0948\u0938\u0932\u0947 \u0938\u0947 \u0930\u093f\u092f\u0932\u094d\u091f\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u0932\u0940\u0915 \u092a\u0930 \u091a\u0932\u0928\u0947 \u0915\u094b \u092e\u091c\u092c\u0942\u0930<\/span><\/strong><\/h3>\n<hr \/>\n<p><strong><span style=\"color: #800000;\">\u0926\u094b \u0905\u0932\u0917 \u0905\u0932\u0917 \u092e\u093e\u092e\u0932\u094b\u0902 \u092e\u0947\u0902 \u0930\u093f\u092f\u0932 \u090f\u0938\u094d\u091f\u0947\u091f (\u0935\u093f\u0928\u093f\u092f\u092e\u0928 \u0914\u0930 \u0935\u093f\u0915\u093e\u0938) \u0905\u0927\u093f\u0928\u093f\u092f\u092e, 2016 \u092f\u093e\u0928\u0940 \u0915\u0940 \u0930\u0947\u0930\u093e \u0915\u0947 \u0915\u094d\u0937\u0947\u0924\u094d\u0930\u093e\u0927\u093f\u0915\u093e\u0930 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\u0915\u0930\u0928\u0947 \u0915\u0930\u0928\u0947 \u0915\u094b \u0932\u0947\u0915\u0930 \u0915\u094d\u092f\u093e \u0938\u094d\u0925\u093f\u0924\u093f \u0939\u0948\u0964 \u092f\u0939 \u092e\u0939\u0924\u094d\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0948 \u0915\u093f \u0907\u0938 \u0915\u093e\u0928\u0942\u0928 \u0915\u093e \u0939\u0930 \u0930\u093e\u091c\u094d\u092f \u0915\u0947 \u0932\u093f\u090f \u092e\u093e\u0928\u0915\u0940\u0915\u0930\u0923 \u0915\u093f\u092f\u093e \u091c\u093e\u090f\u0964\u2018<\/span><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>The Supreme Court&#8217;s (SC&#8217;s) recent verdict upholding the jurisdiction of the Real Estate (Regulation &amp; Development) Act, 2016, or RERA, in two different matters is expected to help homebuyers escape unnecessary harassment and put pressure on unscrupulous developers to toe the line. Firstly, the SC&#8217;s verdict \u2014 upholding the jurisdiction of RERA on all realty [&hellip;]<\/p>","protected":false},"author":1,"featured_media":25907,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1941],"tags":[2071,2070,1144,1208,657,2068,1275,2065,1205,2067,2069,756,2066,405,1353,1061,102,2072],"class_list":["post-25872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-december-articles-21","tag-apartment","tag-buildings","tag-construction","tag-court","tag-developers","tag-expert","tag-home","tag-homebuyer","tag-house","tag-profit","tag-project","tag-real-estate","tag-realtor","tag-rent","tag-rera","tag-sc","tag-supreme-court","tag-under-construction"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SC Verdict to Protect Homebuyers, Make Realtors Toe the Line - PLY INSIGHT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/plyinsight.com\/hi\/sc-verdict-to-protect-homebuyers-make-realtors-toe-the-line\/\" \/>\n<meta property=\"og:locale\" content=\"hi_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SC Verdict to Protect Homebuyers, Make Realtors Toe the Line - PLY INSIGHT\" \/>\n<meta property=\"og:description\" content=\"The Supreme Court&#8217;s (SC&#8217;s) recent verdict upholding the jurisdiction of the Real Estate (Regulation &amp; Development) Act, 2016, or RERA, in two different matters is expected to help homebuyers escape unnecessary harassment and put pressure on unscrupulous developers to toe the line. 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