Download or read book WIRC of ICAI X Taxmann s Maharashtra RERA Law Practice Practice oriented book providing a detailed analysis examining the legal professional and practical dimensions of MahaRERA written by CA. Ramesh S. Prabhu and published by Taxmann Publications Private Limited. This book was released on 2023-12-18 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an exhaustive analysis of the Real Estate (Regulation and Development) Act (RERA), 2016, discussing its multifaceted impact on the real estate sector. It thoroughly examines RERA's legal, professional, and practical dimensions and associated regulations, catering to various stakeholders. Organised into multiple sections, each part of the book focuses on distinct elements and viewpoints relevant to real estate regulation, ensuring a comprehensive understanding. This book incorporates the perspectives of the following stakeholders: • General Section (Applicable to All Stakeholders) • Promoters • Real Estate Agents • Allottees and Association of Allottees • Professional Perspective including CAs, Advocates, Engineers, Architects The Present Publication is the 2nd Edition, authored by the study group of industry experts & representatives from all stakeholders. It is edited by CA. Ramesh S. Prabhu & co-edited by CA. Vinay Thyagaraj, with the following noteworthy features: • [Content and Structure of the Manual] The manual covers various practice areas like registration, certification, and litigation, catering to different stakeholders. It includes legal provisions, SOPs, FAQs, and judicial rulings • [Inclusion of Peripheral Subjects] Beyond RERA provisions, the manual also addresses related areas like o Income Tax o GST o Stamp Duty o Registration o Insolvency and Bankruptcy o Other Relevant Laws • [Practice Manual for Practitioners and Professionals] The manual serves as a guide for new entrants and a reference for seasoned real estate practitioners, covering legal aspects and including various formats and drafts • [Limitations and Challenges] The manual acknowledges the limitations in applying a uniform approach to practice and non-practice-oriented topics, aiming to elevate the standards of beginners and intermediate practitioners • [Professional Application and Compliance] It emphasises the need for Chartered Accountants and professionals to apply their knowledge creatively while adhering to RERA's objectives and client needs • [Dynamic Nature of RERA and Legal Changes] The manual incorporates the evolving nature of RERA, legal pronouncements, and building regulations The detailed contents of the book are as follows: • General – Applicable to all Stakeholders o Overview of RERA, 2016 o Journey & Implementation of RERA & Important Circulars of MahaRERA from Inception till December 2023 o Objective and Purpose of RERA o Real Estate Sector Deficiencies Addressed by RERA o The Authorities to Implement the Act o Powers and Functions of the Real Estate Regulatory Authority o Powers and Functions of Adjudicating Officers o Central Advisory Council – Establishment and Functions o Real Estate Appellate Tribunal and its Functions and Powers • Promoter – From the Promoters Perspective o Promoter under RERA o Functions and Duties of Promoter o Registration of Real Estate Project – Legal Framework o Documents Required and the Process of Registration o Operation of RERA Designated Bank Account o Financial Planning for Real Estate Projects o Quarterly Progress Report (QPR) to be done by the Promoters o Procedure to Extend the Period of the Registration o Procedure for Amendment or Modification in the Sanctioned Plans o Transfer of Real Estate Project to Third Party o The Transfer of Title o Force Majeure and COVID Impact on Real Estate Sector o Advertising and Marketing Post RERA o Importance of End Date/Completion Date and Date of Possession under RERA o Change in Process and Procedure of Real Estate Business post-RERA o Car Parking Space and MahaRERA Circular o RERA Compliance Report by Chartered Accountant o De-Registration of the Project o Gradation of Real Estate Projects • Agent – From the Real Estate Agent Perspective o Registration of Estate Agents Legal Framework o Process to Obtain Registration for Real Estate Agent o Functions of Real Estate Agent o Impact of RERA on Estate Agents o Changing Business Landscape for REALTORS Post RERA o Training and Certification for Real Estate Agents o Self Regulatory Organisation for Real Estate Agents. o Anti-Money-laundering, Countering the Financing of Terrorism and Combating Proliferation Financing Guidelines for Real Estate Agents, 2023 • Allottees – From the Allottees and the Association of Allottees Perspective o Revocation of Registration of the Project o Stalled Real Estate Projects and Revival o Alternative Investment Fund for Real Estate, including SWAMIH Funds o Rights and Duties of Allottees o Association of Allottees o Remedies for Conveyance and Deemed Conveyance o Allottee Due Diligence Before Purchasing Property • Professional – From a Professional Perspective for CAs, Advocates, Engineers, Architects o Title Certificate o Allotment Letter, Agreement for Sale and Sale Deed o Role and Responsibilities of Architect under RERA o The Roles & Responsibilities of a Civil Engineer and Issue of FORM 2 under RERA o Quality Assurance and Defect Liability under RERA o Certificate in Form 3 By Chartered Accountant o Audit by Chartered Accountant under MahaRERA (Form No. 5) o Guidance Note on Accounting for Real Estate Transactions (Revised 2012) and Revenue from Contracts with Customers (Ind AS-115) o Key Audit Challenges – Real Estate Sector o Real Estate Collaborations & Significance of Corporate Due Diligence • Redressal – Redressal System: Complaint, Appeal, Second Appeal, Conciliation o Source (Complaints Against Unregistered Projects for Registration) o Complaint Filing and its Procedure o Process of an Inquiry by the Authority or Adjudication Officer o Appeals under RERA o Second Appeal before the High Court o Execution of orders of MahaRERA and Adjudicating Officer o Execution of a Decree under the Code of Civil Procedure, 1908 o Complaints by the Association of Allottees o Offences and Penalties o MahaRERA Conciliation and Dispute Resolution Forum o MahaRERA Conciliation Forum Role Model of ADR in the Real Estate Sector o Establishing of a Home Buyer/Allottee Grievance Redressal Cell • Income Tax, GST – Taxation: Income Tax, GST, Stamp Duty and Registration o Income tax Applicable on Real Estate Transactions o Overview of GST Implications for the Real Estate Sector o Stamp Duty and Registration • Allied Laws – Other Allied Laws like MRTP, DCPR, IBC, Consumer Protection, etc. o Real Estate Laws of India o Salient Features of Maharashtra Ownership Flats Act, 1963 ('MOFA') o Comparison between MOFA and RERA o Overview of Maharashtra Apartment Ownership Act, 1970 o Development Control Regulations and MahaRERA o Consumer Protection and RERA – Best Recourse to Allottees o Draft Format/Specimen of Consumer Complaint o Landmark Judgments of the Consumer Courts o Insolvency Resolution Process in Real Estate o Interplay of PMLA, Benami, FEMA with RERA • Miscellaneous – Topics Related to Real Estate Rulings & Redevelopment o Constitutional Validity of RERA o Analysis of Judgments o Redevelopment and RERA

Download or read book Taxmann s RERA Case Law Digest Comprehensive compendium capturing seven years of judicial decisions and legal interpretations on RERA by SC HC State RERA Appellate Tribunal etc written by Adv. (CA) Mahadev Birla and published by Taxmann Publications Private Limited. This book was released on 2024-08-03 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an exhaustively curated compendium that captures the essence of the Real Estate (Regulation and Development) Act, 2016 (RERA) through a detailed collection of judicial decisions and legal interpretations spanning over seven years. It covers landmark judgments and legal developments from the Hon'ble Supreme Court, various High Courts, State RERA Appellate Tribunals, and RERA Authorities. This book benefits many professionals and stakeholders in the real estate sector, including developers, builders, agents, brokers, and property managers. Legal practitioners, including lawyers, advocates, and in-house counsel for real estate companies, will find it invaluable. The book is also beneficial for scholars and academicians, such as law professors, researchers, and law and real estate management students. Policymakers and regulators, including government officials, legislators, and regulatory authorities, will find it helpful in understanding and enforcing RERA provisions. Additionally, homebuyers and consumers, prospective homebuyers, consumer rights organizations, financial institutions, and investors, including banks and real estate investors, will find this book helpful for navigating the complexities of the real estate sector. The Present Publication is the Latest Edition, authored by Adv. (CA) Mahadev Birla, Adv. (CA) Nipun P Singhvi, CS Richa Birla. And Adv. Vishal J Dave. The noteworthy features of the book are as follows: • [Jurisprudence] o Case Law Compilation – Presentation of judgments from the Supreme Court, High Courts, and State RERA Appellate Tribunals o Legal Evolution – Detailed documentation of the legal evolution of RERA, providing readers with a thorough understanding of the Act's development over time o Scholarly Discourse – In-depth analysis and scholarly discussion of RERA jurisprudence, empowering readers to understand the legal precedents and interpretations • [Interaction with Other Legal Frameworks] o Insolvency and Bankruptcy Code (IBC) – Analysis of how RERA interacts with insolvency proceedings and the implications for stakeholders o Consumer Protection Laws – Examination of the role of consumer rights within the real estate sector and how RERA supports these rights o SARFAESI Act – Understanding of how real estate assets are affected under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act • [Comprehensive Coverage and Practical Insights] o Up-to-Date Information – Incorporates the latest case laws and developments, ensuring readers are informed of recent changes o Practical Application – Provides practical analysis for practitioners, scholars, and policymakers to apply RERA provisions effectively o Navigational Aid – Provides tools for understanding and navigating the complexities of RERA and its interplay with other significant legal frameworks • [Detailed Analysis] o Jurisprudence § Legal Principles and Precedents – Discusses foundational legal principles, significant precedents, and evolving interpretations related to RERA § Judicial Evolution – Analyzes how courts have shaped RERA's application and enforcement over time o Function and Duties of RERA Authority § Regulatory Role – Examines the authority's responsibilities in enforcing RERA provisions § Compliance and Enforcement – Details how the RERA Authority ensures compliance and handles violations o Real Estate Tribunal and Authority § Structure and Functioning – Reviews the organizational structure, functioning, and significance of Real Estate Tribunals and Authorities § Case Studies – Provides real-world examples of Tribunal decisions and their impact on the real estate sector o Parallel and Overriding Jurisprudence § Interaction with Other Laws – Analyzes how RERA interacts with other legal frameworks and the resultant legal outcomes. § Conflict Resolution – Analyses the mechanisms for resolving conflicts between RERA and other laws o Constitutional Challenges § Legal Challenges – Investigates significant legal challenges to the constitutionality of RERA § Court Rulings – Summarizes significant court rulings on the constitutionality of RERA and their implications This book covers the following case laws: • Supreme Court's RERA Case Laws o Newtech Promoters & Developers (P.) Ltd. v. State of U.P. o Chitra Sharma v. Union of India o Experion Developers (P.) Ltd. v. Sushma Ashok Shiroor o Imperia Structures Ltd. v. Anil Patni o Pioneer Urban Land & Infrastructure Ltd. v. Union of India o Union Bank of India v. Rajasthan Real Estate Regulatory Authority o Ansal Crown Heights Flat Buyers Association v. Ansal Crown Infrabuild Pvt. Ltd. o Forum for People's Collective Efforts (FPCE) v. State of West Bengal o Imperia Structure Ltd. v. Baljor Singh Jakhar, etc. o Vishal Chelani v. Debashis Nanda • High Court's RERA Case Laws o Neelkamal Realtors Suburban (P.) Ltd. v. Union of India o Lavasa Corporation Limited v. Jitendra Jagdish Tulsiani o Man Global Limited v. Bharat Prakash Joukani o Goregaon Pearl CHSL v. Dr. Seema Mahadev Paryekar o Larsen and Toubro Limited v. Ms Rekha Sinha o CCI Projects v. Jyoti Narang o Narayan Realty Infrastructure v. State of Gujarat o Accrual Realities Pvt. Ltd. v. State of Madhya Pradesh o Renaissance Infrastructure v. Parth B. Suchak o Janta Land Promoters Private Limited v. Union of India o Experion Developers (P.) Ltd. v. State of Haryana o Paramount Prop Build Pvt. Ltd. v. State of UP o Pacifica (Chennai Project) Infrastructure (P.) Ltd. v. C. R. Chenthirkumaran o Chhattisgarh Grih Nirman Mandal v. Shrimati Preeti Singh W/o Mahendra Singh o NCPL Infracon LLP v. Jyotsna Shah o SARE Shelters Project Pvt. Ltd. v. SARE SQUIRES o Macrotech Developers Limited v. State of Maharashtra o Gujarat Real Estate Regulatory Authority v. Satyam Infracon o Union Bank of India v. Rajasthan Real Estate Regulatory Authority o Sanjay Ghiya v. Union of India o Experion Developers Private Limited v. State of Haryana o Habitech Infrastructure Ltd. v. State of U.P. o NBCC (India) Limited v. Joshy Varghese o Bombay Dyeing & Mfg. Co. Ltd. v. Ashok Narang o Ashok Palav Co-op. Housing Society Ltd. v. Pankaj Bhagubhai Desai o Janapriyo Real Estate Pvt. Ltd. v. State of West Bengal o Graceland Foundation v. Kerala Real Estate Regulatory Authority o GS Enterprises v. Yogesh Agarwal o Samruddhi Developers v. Kiran Vasant Verekar o Goa Real Estate & Construction Pvt. Ltd. v. State of Goa o U.P. Awas Evam Vikas Parishad v. Nishta Bhatnagar o Jayesh Tanna, Director of ITMC Developer (P.) Ltd v. Radha Arakkal o Hagwood Commercial Developers (P.) Ltd. v. Rahul Madhukar Deshmukh o Balaji Construction Company v. Anjusha Ajit Kadam o Wadhwa Group Housing (P.) Ltd. v. Vijay Choksi o Shravan D. Agarwal v. Sagar H. Saboo • Appellate Tribunal's RERA Case Laws o Udayachal Goregaon Co-operative Housing Society Ltd. v. Manoj Kumar Mistry o Pratham Square v. Gujarat Real Estate Regulatory Authority o Sanvo Resorts Pvt. Ltd. v. Ranveer Sharma o GMR Krishnagiri SIR Ltd. v. Tamil Nadu Real Estate Regulatory Authority o Manish Patel v. Crystal Yagnapurush Residential & Commercial Owners Associations (CYRCOA) o Rohit Chawla v. Bombay Dyeing & Mfg. Co. Ltd. o Ratul Lahiri v. Tata Housing Development Co. Ltd. o Pankaj Kishor Agrawal v. Real Gem Buildtech (P.) Ltd. o Satyam Infracon v. Gujarat Real Estate Regulatory Authority o Bright Sky Heights Builders & Developers (P.) Ltd. v. Rajendra Eknath Pawar o Dr. Sanjay Pandurang Kalate v. Lavim Developers (P.) Ltd. o Om Shanti Ambika Welfare Association v. Rajguru Developers (P.) Ltd. o CCI Projects (P.) Ltd. v. Rival Park Wintergreen Buyers Association o Mohit Melwani v. A.A. Estates (P.) Ltd. o DN Nagar Samrat CHS Ltd. v. Umanath Agrawal o Dinesh Humane v. Piramal Estate (P.) Ltd. o Bijon Dhirendra Talukdar v. Dhruva Woolen Mills (P.) Ltd. o Abhishek Anuj Sukhadia v. Pragatej Builders & Developers (P.) Ltd. o Oberoi Constructions Ltd. v. Asset Auto (I) (P.) Ltd. o Pradip Mehta v. Sylvanus Properties Ltd. o Mrs. Jyoti K. Narang v. CCI Projects (P.) Ltd. o SLB Welfare Association v. PSA IMPEXP Ltd. o Bharat Narendra Mistry v. Realgem Buildtech Pvt. Ltd. • RERA Authority's Case Laws o Techno Drive Engineer Pvt. Ltd. v. Renaissance Indus Infra Pvt. Ltd. o Amit Agarwal v. Godrej Properties Ltd. o Dr Suresh Kumar Arora & Dr Reema Arora v. Emmar MGF Land Ltd. o Sushant Karkera v. Conoor Builders Pvt. Ltd. o Niranjan Dashpute v. Rajkumar Nivrutti Saste o Gaurav J. Desai v. Bhanushri Realities