What are the broad contours of the ruling?
The apex court held that RERA is retroactive in its application and covers all projects for which completion certificates were not issued at the time of the Act’s implementation. The ruling has reaffirmed the jurisdiction of RERA on all projects that were ongoing when the law was getting enacted. Many states which diluted RERA provisions may now have to amend the regulations to ensure that all ongoing projects get covered under the Act. State authorities will now have to include and perhaps take action against such projects that have enjoyed exemption from RERA so far.
What else did the court say?
Diese Geschichte stammt aus der March 2022-Ausgabe von BANKING FINANCE.
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Diese Geschichte stammt aus der March 2022-Ausgabe von BANKING FINANCE.
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