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RERA – Real Estate (Regulation & Development) Act

RERA for Allottee (Property Buyer / End-user/Customer)

Under RERA – Real Estate Regulation (& Development) Act, the major parties dealing parties for Real Estate Property, are Builder, Buyer and Broker who are respectively defined as Promoter, Allottee and Real Estate Agent.

In view to infuse transparency, ensure fair play and reduce frauds and delays in property dealing with a promoter alongwith creating confidence of investors in Real Estate sector, the MahaRERA authority has set-up a website known as http://maharera.mahaonline.gov.in, wherein any person interested in a registered project of any Promoter, can get the required information free of cost and even without login.

There are total eleven numbers of rights and duties of the Allottee, which are prescribed in Chapter IV, section 19 of RERA, 2016, summery of which is as follow:

  1. Obtain information about authenticity of the project.
  2. Know the stage-wise time schedule and information about provisions for basic necessities.
  3. Entitled to claim possession of booked property / premises and possession of common area through Society / Legal entity.
  4. Entitled to claim the refund / interest / compensation from the Promoter for breach of any terms of Agreement for Sale.
  5. Entitled to have necessary documents after handing over of possession of the property premises.
  6. Duty bound to enter into Agreement for Sale and make necessary payment in specified time, towards agreed consideration value of the property and make payment towards other costs.
  7. Liable to pay interest for delayed payment, at prescribed rate of interest.
  8. Obligation towards above liabilities (6 & 7) may be reduced upon mutually agreed terms with the Promoter.
  9. Duty to participate in formation of Society / association / federation as the case may be.
  10. Take physical possession within 2 months from the date of occupancy certificate.
  11. Duty to participate in registration of the conveyance deed.

The RERA authority can help to the Allottee in the matters of failures in delivery by the promoter for following commitments

  1. Non-fulfilment of committed date of possession.
  2. Non-fulfilment of committed delivery of amenities and facilities.
  3. Non-fulfilment of committed area measurement of the property premises.
  4. Non-fulfilment of committed time of forming the Society / Legal Entity.
  5. Non-fulfilment of committed time of providing ‘Conveyance’ to the Society / Legal Entity.
  6. Breach of any of committed terms of ‘Agreement for Sale’ as per model form of RERA.

An aggrieved Allottee may make complaint against the Promoter in the prescribed ‘Standard Operating Procedure for Handling Complaint’, which has been published by MahaRERA authority on 24/07/2017 and available for download at the following link: https://maharera.mahaonline.gov.in/Upload/PDF/SOP%20for%20Handling%20Complaints.pdf.

It is noteworthy here that the RERA authority has empowered the Promoter as well, to make complain against an errant Allottee and the MahaRERA authority may take punitive action against such Allottee, in the prescribed manner.