The Supreme Court closed the case against MP RERA Chief after the High Court quashed the probe, stating the removal inquiry was already withdrawn due to procedural lapses.
On Supreme Court’s orders, CBI registered 22 FIRs and raided 47 NCR sites in a builder–bank scam. Homebuyers were lured with false promises of “No Pre-EMI till possession”, leaving them cheated and trapped in loans.
Supreme Court allows CBI to register 22 FIRs over alleged fraud by builders and banks under subvention schemes in NCR. The bench termed it an “unholy nexus” causing massive loss to over 1,200 homebuyers.
The Supreme Court is worried about the troubles of many homebuyers. It is thinking about ordering a CBI investigation into the matter. Many people have lost their money due to housing fraud and delays. The court wants to ensure justice for affected homeowners.
The Supreme Court mandated states to expedite approvals for Unitech’s stalled housing projects to relieve homebuyers. Deadlines have been set for clearances, allowing construction to resume. Despite a new board’s establishment in 2020, progress has been minimal, leaving around 10,000 homebuyers awaiting possession and facing financial strain.
The Supreme Court criticized the Real Estate Regulatory Authority (RERA) for failing to meet its objectives, stating it has become a refuge for retired bureaucrats who undermine the Act’s intentions. Established in 2016 to ensure real estate transparency and protect homebuyers, RERA’s effectiveness is now in question amid ongoing legal challenges.
The Supreme Court of India has ruled that real estate developers must obtain both a completion certificate and a fire safety clearance before offering possession of a flat, deeming it illegal to do otherwise. This landmark decision reinforces homebuyers’ rights by ensuring developers are accountable for securing all necessary approvals.
