TagReal Estate

Who is a Consumer? Parallel Proceedings under RERA and CPA

[Varda Saxena is a 3rd year B.A., LL.B. (Hons.) student at Jindal Global Law School in Sonipat] Section 2(7) of the Consumer Protection Act, 2019 (“CPA“) mandates that a person who obtains goods for commercial purposes is not a consumer. This means that a person who obtains goods for reasons other than the sustenance of their livelihood or for reasons other than self-use is...

Fractional Ownership: Recommendations for Regulation

[Malavika Devaya is an Associate at Poovayya & Co., Bengaluru] Myre Capital, a fractional ownership platform by Morphogenesis, recently made headlines by raising INR 50 crores for its offering of the integrated township Magarpatta Cybercity. A concept that is fast gaining popularity in India but has been around in developed countries for a while now, fractional ownership is the obvious answer...

Straining Conceptual Consistency: Home Buyers as Financial Creditors

[M P Ram Mohan is Associate Professor, Indian Institute of Management Ahmedabad and Vishakha Raj a Research Associate, Strategy Area, Indian Institute of Management Ahmedabad. This post is based on the authors’ article Apartment Buyers as Financial Creditors: Pushing the Conceptual Limits of the Indian Insolvency Regime published in the Columbia Journal of Asian Law] A unique feature of the...

Flat Buyer’s Right To Claim Compensation For Delay In Handing Over Possession

[Ashish Singh is an Advocate and Former Managing Associate at L&L partners and Megha Shaw is a 4th year student at NUJS, Kolkata] Delays in handing over the possession of flats has become a rampant practice in the Indian real estate industry, due to which numerous innocent home buyers are being penalized. Such home buyers are not only left in the lurch without delivery of possession of their...

Andhra High Court Rejects Insider Trading Claims on Land

Rooted in preserving market integrity, the concept of insider trading emerged and has been ingrained in the context of the securities markets. Despite the well-understood nature of the subject-matter of insider trading, a question recently arose on whether the offence can be extended to the purchase and sale of land. In Chekka Guru Murali Mohan v. The State of Andhra Pradesh (decided 19 January...

Examining the Issues Related to TDR under GST

[Madhura Karanth is a fourth year student at NALSAR University of Law, Hyderabad. The author is thankful to Mr. Mihir Naniwadekar for valuable inputs] A Joint Development Agreement (“JDA”) is common in the Indian construction industry. A landowner and a developer enter into such an arrangement, where the developer undertakes to develop the owner’s land. Usually, the constructed area is shared...

Applicability of Force Majeure in Commercial Lease Agreements Amid Covid-19

[Sumit Kumar Gupta is a 4th year student at the West Bengal National University of Juridical Sciences, Kolkata] Covid-19 has unleashed an unprecedented economic crisis, and has brought with it a plethora of issues surrounding commercial lease agreements, as tenant associations increasingly seek waivers. The question whether the lockdown would entitle tenants a guarantee of waiver or claim...

IBC Ordinance, 2019: Impleadment of Allottees in a Pending Application

[Pareekshit Bishnoi is an advocate based in Delhi] The President of India on 28 December 2019 promulgated the Insolvency and Bankruptcy Amendment (Ordinance) Act, 2019 (the “Ordinance”) to amend several provisions of the Insolvency and Bankruptcy Code, 2016 (the “Code”). Pertinently, section 3 of the Ordinance amended section 7 of the Code by adding three provisos to it. The provisos have limited...

Budget 2020: What’s there for the Real Estate Sector?

[Akash Kumar Prasad is a fourth-year student at NALSAR University of Law, Hyderabad] The Union Budget 2020-21 was presented on February 1, 2020 by the Finance Minister Nirmala Sitharaman. Amidst sharp decline in the economy, the Union Budget was awaited with great expectations to foster growth in the real estate sector. However, with no major announcement for catalysing the same, the Budget fell...

The Supreme Court Ruling in Pioneer: The Curious Case of Allottees under the IBC

[Saurabh Gupta is a third year student at the National Law School of India University. He is an Editor of the Indian Journal of International Economic Law and Law School Policy Review] The Supreme Court in Pioneer Urban Land and Infrastructure v Union of India [2019 SCC OnLine SC 1005] (“Pioneer”) upheld the constitutional validity of the Insolvency Code (Second Amendment) Act of 2018 (“2018...

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Top Posts & Pages

Topics

Recent Comments

Archives

web analytics

Social Media