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Home Buyers / Allottee

Possession Issues under RERA

Possession issues are one of the most common grievances that homebuyers face, and RERA provides a robust mechanism to address these concerns. Under the Real Estate (Regulation and Development) Act, developers are legally bound to deliver possession of the property to the buyer as per the agreed-upon timeline mentioned in the sales agreement. Any delay in possession beyond the promised date can lead to significant inconvenience for homebuyers. RERA offers a platform for buyers to file complaints against developers in cases of delayed possession, non-delivery, or incomplete projects.

In such cases, RERA mandates that the developer either hand over possession within the stipulated time or compensate the homebuyer for the delay. The compensation may include interest on the amount paid, and in some instances, developers may be asked to provide additional remedies, such as covering the cost of alternate accommodation for the buyer during the delay period. RERA ensures that developers are held accountable for adhering to deadlines, creating greater transparency and trust in the real estate market. Homebuyers facing possession issues can approach RERA authorities for a swift resolution, thereby safeguarding their rights and ensuring that developers fulfill their obligations as promised.

Refund / Compensation under RERA

Under RERA, homebuyers are entitled to a refund or compensation if developers fail to deliver possession on time or if there are significant discrepancies in the property, such as non-compliance with the promised specifications. If a project is delayed beyond the agreed-upon date, RERA mandates that the developer either refund the amount paid by the buyer with interest or compensate them for the delay. The compensation amount typically includes the interest on the paid amount, ensuring that homebuyers are protected financially. RERA provides a legal platform for consumers to claim their refund or compensation, ensuring that developers fulfill their contractual obligations and homebuyers are not left at a disadvantage.

Penalties under RERA

RERA imposes strict penalties on developers, builders, and real estate agents for non-compliance with its regulations. Developers may face fines of up to 10% of the project cost for failing to register their projects or adhere to timelines, while agents who violate RERA rules can be penalized or have their registration canceled. Additionally, developers can be held accountable for delays in possession, non-compliance with specifications, or misleading advertisements. These penalties are designed to ensure accountability, protect consumer rights, and maintain transparency in the real estate sector.

Litigation / Case Filing under RERA

Under RERA, homebuyers, developers, and agents have the right to file cases for disputes related to non-compliance, delays, or violations of the Real Estate (Regulation and Development) Act. If issues such as delayed possession, faulty construction, or breach of contract arise, affected parties can approach the respective RERA authority or Appellate Tribunal for resolution. The process is designed to be faster and more transparent than traditional litigation, allowing for quicker redressal of grievances. Filing a case ensures that the concerned party can seek compensation, legal remedies, or enforce compliance with RERA’s regulations.

RERA Complaints

RERA provides a structured platform for filing complaints related to project delays, poor construction quality, false advertising, or violations of the terms agreed upon in the sale agreement. Homebuyers, developers, and agents can file complaints with the respective state RERA authority or the Real Estate Appellate Tribunal. The process is designed to be straightforward and aims for quick resolution, ensuring transparency and accountability in the real estate sector. Once a complaint is lodged, RERA takes necessary actions to investigate the matter, offer remedies, and, if required, impose penalties to protect the rights of the parties involved.

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RERA, is a transformative legislation in India aimed at bringing transparency, accountability, and efficiency to the real estate sector.

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Home Buyers / Allottee

Possession Issues under RERA

Refund / Compensation under RERA

Penalties under RERA

Litigation / Case Filing under RERA

RERA Complaints

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