How New Homebuyers Have Benefited From Rera In Last 5 Years

RERA came into the picture in 2016 to benefit the homebuyers who have received falsified promises from the real estate developer or real estate agent. However, another year’s time was given to the governments for drafting rules, setting tribunals, appointing staff and other provisions. As a home buyer, using RERA’s guiding hand for resolving your complaints against builders or to search for information to can be helpful.

The Act makes it mandatory for every real estate project that has a land area in excess of 500 square metres or has more than eight apartments, needs to be registered. Developers also need to indicate the names of registered real estate agents who will be working for their projects.

So, as a home buyer, you start getting protection under the Act from the time the project starts getting advertised. “Depending on the nature of action or omission, the home-buyer may be able to approach RERA as early as the booking stage. On issues such as deviations from specifications advertised/ agreed upon, an aggrieved homebuyer can approach RERA even after accepting possession and transfer of title,” says Mani Gupta, partner, Sarthak Advocates & Solicitors.

Besides, “a buyer can file a complaint on delay in possession, inconsistencies in design, any demand for advances beyond the permissible limit, false advertisements, non-payment in assured return cases, diversion of funds, alteration in project without consent, breach of any term of the builder-buyer agreement pertaining to the property,” says Harsh Pathak, real- estate matters counsel. Remember, a developer cannot ask for more than 10 percent of the property value before signing a builder-buyer agreement or an agreement for sale.

What are the fees and charges for filing a case?

The fee and charges for filing a case in RERA vary from state to state and it is advisable to check the website of the jurisdictional RERA. Typically, the fee is Rs 1,000 per complaint

 You yourself can represent your case with the RERA. However, some experts advise taking help from advocates to put forth your case strongly. In case you decide to take the help of a lawyer, “apart from the filing fee, the home-buyer would also have to incur the legal counsel’s fees.

How much time does RERA takes to resolve a query?

The prescribed timeline for disposal of complaints under application is 60days, whether before the Authority or the Adjudication Officer

However, there are many homebuyers waiting for judgments way beyond the prescribed timeline. The act itself provides that if the complaint could not be disposed of in the said timeline, the reasons have to be recorded and additional time may be taken. In most legislations in India, such timelines are generally considered to be directory and not mandatory. Happy Homes is bringing the most honest reviews of the most authentic and registered properties. To get more details on the reviews, kindly check our website: happyhomesindia.in or Call: 8929448844