The Interplay Between RERA And SARFAESI: Homebuyer Protection Vs. Security Interest Enforcement In Real Estate
Sanjai Srinivasan S, LL.B. (Hons.) Graduate, SRM Institute of Science and Technology.
V Harshitaa Shriee, LL.B. (Hons.) Graduate, SRM Institute of Science and Technology.
ABSTRACT
This paper entitled “THE INTERPLAY BETWEEN RERA AND SARFAESI: HOMEBUYER PROTECTION VS. BANK ENFORCEMENT IN REAL ESTATE” deals with an analysis of the inherent conflicts that are present in the intersecting field of real estate oriented for consumers and security interest enforcement. The paper goes further to analyse the overlap in effect between these pieces of legislation, jurisdiction of the tribunals that have been set up under these statutes, and several other issues arising out of such an intersection of the two statutes. Concepts like in what circumstances one statute would be considered more important than the other, basis for such application, whether RERA has any retrospective application and what gives rise to such an effect among others are all covered. Forum shopping due to this intersecting conflict has been analysed with judicial precedents. The article's main goal is to identify the point at which these two pieces of law are balanced.
