Examples of RERA Act in a sentence
The Promoter shall compensate the Allottee in case of any loss caused to him due to defective title of the land found due to default or negligence of promoter, on which the project is being developed or has been developed, in the manner as provided under the Act and the claim for interest at the agreed rate which shall be not more than the rate prescribed under the RERA Act and Rules and compensation under this provision shall not be barred by limitation provided under any law for the time being in force.
Focus on EPC Segment We believe that the implementation of the RERA Act will have far reaching consequences on the construction industry in India, including the Mumbai Real Estate market dynamics.
Thus, the parliamentary intent is clear that a choice or discretion is given to the allottee whether he wishes to initiate appropriate proceedings under the CP Act or file an application under the RERA Act.
From the foregoing, there is no doubt in the mind of this Court that, giving a purposive interpretation to Sections 79, 88 and 89 of the RERA Act, there is no bar under the RERA Act from application of concurrent remedy under the A&C Act, and thus, there is no clash between the provisions of the RERA Act and the A&C Act, as the remedies available under the former are in addition to, and not in supersession of, the remedies available under the A&C Act.
The carpet area mentioned therein is as defined under the RERA Act, 2016, i.e., ‘Carpet area means the net usable floor area of an apartment excluding the area covered by external walls, areas under service shafts, exclusive balcony or varanda area and exclusive open terrace area, but includes the area covered by internal partition walls of the apartment’.
The absence of bar under Section 79 to the initiation of proceedings before a fora which cannot be called a Civil Court and express saving under Section 88 of the RERA Act, make the position quite clear.
Again, insofar as cases where such proceedings under the CP Act are initiated after the provisions of the RERA Act came into force, there is nothing in the RERA Act which bars such initiation.
As per Section 4(2)(c) of RERA Act, 2016, a Project could not be registered without submitting the authenticated copy of approvals and Commencement Certificate from the Competent Authority.
Leases (cont'd)Policy applicable as from January 1, 2019 (cont'd) The lease termThe lease term is the non-cancellable period of the lease plus periods covered by an extension or termination option if it is reasonably certain that the lessee will or will not exercise the option, respectively.
The RERA Act establishes Real Estate Regulatory Authority (RERA) in every state for regulation and promotion of the real estate sector.