https://www.taxtmi.com/caselaws?id=274240 The Real Estate (Regulation and Development) Act, 2016 was upheld in substantial part as a valid regulatory framework for ongoing projects: registration, disclosure of timelines, escrow-related deposits, extension, revocation, interest, compensation and penalties were treated as prospective regulatory obligations aimed at protecting allottees and ensuring completion, not as unconstitutional retrospective or confiscatory measures. The Court held that no vested right existed to continue an unregulated project, that the restrictions were reasonable, and that interest under Section 18 was compensatory. However, the provision allowing an Indian Legal Service officer who had served as Additional Secretary to be treated as a Judicial Member of the Appellate Tribunal was invalid; that portion was severed to preserve the Tribunal's requirement of a genuine Judicial Member. en-us Wed, 06 Dec 2017 00:00:00 +0530 Fri, 03 Aug 2018 07:59:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274240 The Real Estate (Regulation and Development) Act, 2016 was upheld in substantial part as a valid regulatory framework for ongoing projects: registration, disclosure of timelines, escrow-related deposits, extension, revocation, interest, compensation and penalties were treated as prospective regulatory obligations aimed at protecting allottees and ensuring completion, not as unconstitutional retrospective or confiscatory measures. The Court held that no vested right existed to continue an unregulated project, that the restrictions were reasonable, and that interest under Section 18 was compensatory. However, the provision allowing an Indian Legal Service officer who had served as Additional Secretary to be treated as a Judicial Member of the Appellate Tribunal was invalid; that portion was severed to preserve the Tribunal's requirement of a genuine Judicial Member. Case-Laws Indian Laws Wed, 06 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274240