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Property News #14: 850 allottees to get plots after decades, Qatar allows foreigners to own properties, MahaRERA directs the buyer to pay interest

Gurugram: 850 allottees to get plots after decades

For the last two months, the Punjab and Haryana High Court have dispelled some 15 litigations questioning the acquisition by HSVP, and 850 people who have been waiting for their land to be possessed in the 57, 52, and 45 sectors for decades are allowed to build their houses.

In the coming weeks, another 100 plots will possibly be excluded. Jitender Yadav, the administrator (Gurugram), stated that it has come as an enormous relief for both HSVP and its allottees.” The plots of land have all been litigated following the enactments of the Rehabilitation and Resettlement Act, 2013, Right of Equal Compensation and Transparency in Land Acquisition as the original owners protested the acquisition of land claiming higher pay in compliance with the new Act or the acquisition quashing. 

In different sectors about 10 to 30 years ago these allottees were granted plots. Since the new land procurement law was implemented in 2013, the issue began: if within five years of purchase, the government does not pay the landowner, the land will be returned. Many landowners claimed that compensation has not been acknowledged and the purchased land has been questioned. Finally, the matter was resolved by the Supreme Court’s clarification that, in view of Section 24(2) of the constitution, once the property has been purchased it cannot be divested.

Qatar allows foreigners to own properties in more areas

Qatar announced that foreign businesses and individuals would be able to own property in more regions of the country, liberalizing the rules to draw foreign money to the sector as part of economic diversification efforts. Both foreign companies and non-Qatari individuals can also own properties in nine areas. The decision will help to accelerate economic growth, 

promote the Qatari real estate market, and stimulate the real estate business.

The world’s leading exporter of liquefied natural gas, Qatar is striving to diversify its economy by boosting tourism and foreign investment in non-hydrocarbon sectors. In assigning these areas to foreign investment and ownership, Qatar has created attractive opportunities for domestic and international investors. The International Monetary Fund has said that this year, with the effect of the coronavirus pandemic, the Qatar economy is expected to contract by 4.3 per cent.

MahaRERA directs the buyer to pay interest to the builder for delay in payment

In an ever-present case, a homebuyer had been ordered to pay a penalty in the form of interest for a payment delay by the Maharashtra Real Estate Regulatory Authority (MahaRERA). This is contrary to common orders from the authority to the developer to pay a premium for delayed ownership to a homebuyer.

In August 2019 the buyer reached a settlement with the developer to buy a sub-construction apartment in Pune. According to the contractor’s complaint, between August and December 2019 the homebuyer did not pay any amount despite sending multiple request letters.

In January 2020, the homebuyer then submitted a legal letter to the contractor that the parking space was not reserved. This was cited by the homebuyer as justification for not paying to the developer, along with a rise in GST charges. The contractor had requested guidance from the authority for cancelling the contract and forfeiting the amount paid by the buyer on the reservation. The homebuyer argued that the plaintiff as a promoter does not file a lawsuit against the allottee because RERA does not allow for such a lawsuit.

The authorities have ordered the homebuyer to pay the builder within a month unless the builder is allowed to cancel the contract for sale.

For more details, check out https://youtu.be/yJzGY4DsPpQ, you can also reach out to me here or email – chenoyceil@gmail.com.

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