IBBI Releases Discussion Paper on Real-estate Related Proposals | Proposes Mandatory Registration of Projects With RERA
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- By Chetan Kulasri
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- Last Updated on 8 November, 2023
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IBBI’s discussion paper on ‘Real-Estate Related Proposals on CIRP and Liquidation’, Dated: 06.11.2023
The IBBI has released a discussion paper on real-estate related proposals – CIRP and Liquidation. Some of the key proposals include
(a) mandatory registration & extension of projects under RERA
(b) operating a separate bank account for each real estate project
(c) execution of registration/sublease deeds with the approval of CoC during the CIRP
(d) CoC to examine and invite separate plans for each project and
(e) exclusion of property in possession of homebuyers from the liquidation estate.
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