Dear Sir,
Your problem may shared and remedied with RERA.
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FAQs RERA
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https://credai.org/assets/upload/rera/resources/frequently-asked-questions-faqs-on-rera.pdf
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http://www.merarera.com/for-buyers/
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CHAPTER III - FUNCTIONS AND DUTIES OF PROMOTER
43. What are the important functions and responsibilities of the promoter after
registration of the project with the Authority?
As per section 11 of the Act, the promoter is required to update all project information as
furnished at the time of application (as provided under section 4) on the website of the
Authority. In addition, section 11 also provides for certain information, which needs to be
regularly (quarterly) updated by the promoter, in order to make an informed choice by the
buyer.
In addition, the promoter is required to carry out all the responsibilities as envisaged under
section 11 at various stages of development of the project and upon its completion.
44. What are the disclosures to be made on the website of the Regulatory Authority?
Section 4 and section 11 provide for a detailed list of disclosures on the website of the
Authority by the promoter for public viewing. Also, the detailed list is required to be
specified in the Rules.
45. What is the promoter’s obligations regarding veracity of the advertisement or
prospectus?
As per section 12 the promoter is responsible for the veracity of all information contained
in the advertisement and the prospectus. In case of any loss sustained by any person
due to false information contained therein, the promoter is liable to make good the loss
sustained due to the same.
46. Can the promoter collect any amount of money towards booking of the apartment
/ plot?
Section 13 provides that the promoter cannot accept a sum more than 10 percent of the
apartment / plot cost as an advance payment / application fees. For any further collection
towards the apartment / plot cost, the promoter is required to enter into an ‘Agreement
for Sale’ with the allottee.
47. What is the ‘Agreement for Sale’ and is it binding on the ‘promoter’ and the
‘allottee’?
As per section 13(2) the appropriate Government is required to specify through Rules
the ‘Agreement for Sale’ to be entered into between the promoter and the allottee. This
Agreement is binding on the parties, however, internal flexibility could be provided in
the said Agreement for Sale, for determination / insertion of other provisions as decided
between the parties.
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48. Can the promoter modify / amend the sanctioned plans or project specifications
after having been approved by the competent authority and disclosed to the
allottees?
As per section 14 of the Act the promoter can only modify / amend the sanctioned plans
or project specifications, after the approval of the competent authority and its disclosure
to the allottees, in case of minor additions or alterations.
However, in case of major modification / alteration, the promoter can modify the
sanctioned plans or project specification only after having taken approval from two-third
of the allottees. In addition, for arriving at the number of two-third allottees, the number
of apartments held by the promoter will be excluded. Also, irrespective of the number of
apartments held by an allottee he/she shall only be entitled to one vote.
49. What is the period for which the promoter is liable for any structural defects etc. in
the project / apartment etc.?
As per section 14(2) the promoter shall be liable for 5 years form the date of handing over
of possession to the allottee towards structural defect or any other defect as specified
therein.
50. What is the obligation of the promoter as regard transfer of the project to a third
party?
As per section 15 the promoter is not entitled to transfer or assign his majority rights and
liabilities in the project to a third party, without obtaining the prior written consent of twothird
of allottees and the Regulatory Authority.
In addition, for arriving at the number of two-third allottees, the number of apartments
held by the promoter will be excluded. Also, irrespective of the number of apartments
held by an allottee he/she shall only be entitled to one vote.
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For Buyers
The property buyers of India are in sheer sorrow due to the difficulties presented by the promoters and the real estate agents. There is numerous complaint against the promoters. We are not talking about every promoter or every real estate agent by everyone knows that there are some people who are not being honest. Due to their unending greed for money, the innocent buyers have to suffer. There are many cases registered where we can find that a buyer looking for a home for his family has to spend his time complaining against the builders. These complaints come in regards to late possessions of apartments by the promoters, unreasonable charges, change of plans etc.
Due to the endless complaints, the Real Estate Regulatory Authority Agency has taken the matters into its own hand and has formulated an agency known as RERA (Real Estate Regulatory Authority). RERA has brought some milestone changes regarding the laws in real estate sector of India. The wholehearted commitment of the government into maintaining fair play in the property business has come as a big relief for the buyers. Apart from the buyers, the promoters and the real estate agents who go by the government norms, but have to suffer from the spread of bad word against them due to some ill practices by some promoters and real agents, also will feel happy and relieved.
meraRERA is a portal made to make a healthy relationship for the promoters, agents and the buyers. It is very necessary that these three bodies work in tandem and help each other as the real sector of any country is its right arm regarding its economy. Apart from informing the promoters about the new guidelines, they have to follow and their functions in order to maintain a just way of purchasing and selling a house. meraRERA is also trying to make the real estate agents more efficient and customer-friendly so that the communication gap between a buyer and a promoter cannot lead to major issues and problems. All this will be done so that a buyer never feels cheated again.
RERA has set up some fundamental functions for the buyers which are laid upon as their rights.
A buyer is entitled to know all the plans of a real estate project in detail. He has the right to know the stage-wise completion of the project which includes the amenities as well.
A buyer is entitled to claim a written possession of his house and the common areas which he is entitled to as a member of the project. He has the right to get all the documents regarding the project.
A buyer has to pay the amount he has signed the agreement in the court. He will have to pay interests if he delays the payment. However, a promoter has to pay the same interest to the buyer if he delays his project or if he has not been able to provide what was said in the agreement.
The buyer should participate in forming an association after taking the physical possession of his house. He should also be active on the website of RERA India so that the flow of information can be maintained. His participation towards the deed of the apartment can be beneficial for other buyers.
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