RERA Advocates

27/01/2023

RERA notification on Forfeiture of earnest money by the Builder in case of cancelation of allotment
Before the implementation of the Real Estate (Regulations and Development) Act, 2016 builders were doing frauds by forfeiture of entire money paid by the purchaser in case of cancellation of plot as there was no law for the same, however Hon’ble National Consumer Disputes Redressal Commission and Hon’ble Supreme Court of India in their judgment has held that
“ The forfeiture amount of the earnest money shall not exceed more than 10% of the consideration amount of the real estate i.e. apartment/plot/building as the case may be in all cases where the cancellation of the flat/unit/plot is made by the builder in a unilateral manner or the buyer intends to withdraw from the project and any agreement containing any clause contrary to the aforesaid regulations shall be void and not binding on the buyer”.

In view of the said settled proposition of law the builder has to refund the balance sale consideration amount after deduction of 10% of the consideration amount with interest
The said proposition of law is also notified by THE HARYANA REAL ESTATE REGULATORY AUTHORITY, GURUGRAM in its Notification dated 5th December, 2018 The Haryana Real Estate Regulatory Authority Gurugram (Forfeiture of earnest money by the builder) Regulations, 2018. No. 11 /RERA GGM Regulations 2018.

27/12/2022

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09/12/2022

Non-bailable warrants issued by the court of RERA adjudicating officer against 18 builders in 86 contempt cases,
RERA adjudicating officer (AO) issued Non-bailable warrants against 18 builders in as many as 86 contempt cases .
The court has issued around 20 non-bailable warrants against Raheja Developers Limited in contempt cases in the complaint filed by allottees, who had approached for the ex*****on of the RERA orders
In another 17 contempt cases, non-bailable warrants have been issued against Ansal Housing and Construction Limited.
Besides , 10 non-bailable warrants have been issued against Tashee Land Developers Limited, six against International Land Developers Private Limited, five against Vatika Limited, four against Ramprastha Promoters and Developers Limited, three each against Ireo Grace Realtech, Imperia Structure Limited and Kashish Developers Limited; two each against Angle Infrastructure Limited, CHD Developers Private Limited, ILD Millennium and Supertech Limited and Tirupati Buildplaza Private Limited and one each against five builders.