RERA: No possession date in builder buyer agreement

The buyer enters into an agreement where the builder deliberately mentions vague clauses in the Builder Buyer Agreement in order to evade liability.

Alteration of Builder Buyer agreement after implementation of RERA Act

RERA does not speaks about the alteration of the terms and condition of the agreement to sale but if there is any contradiction, it is understood that law will prevail.

Centre Proposes to Submit Model Builder-Buyer Agreement with mandatory RERA clauses before Supreme Court

A builder-buyer agreement with mandatory clauses that the states or union territories cannot change has been proposed to the Supreme Court by the federal government.

Supreme court directed central government to frame model builder-buyer agreement

It is important to frame a model builder-buyer agreement to seek out transparency and uniformity and to protect the interest of homebuyers and consumers from builders’ unfair practices.

Arbitrary Builder-Buyer Agreements

We often talk about the rapid growth of the real estate sector in India but forget to talk about the legal documents that play a very crucial role in the aforesaid sector. And builder buyer agreement is one of the most important documents for homebuyers.

RERA: Where No Builder-Buyer Agreement is Signed

Although, the home-buyers are taking a sigh of relief but what if there is no Builder-Buyer agreement executed between the Builder and buyer.

Will RERA execute the builder-buyer agreement as the Builder fails to do so?

After the implementation of Real Estate (Regulation and Development) Act, 2016, any person who is aggrieved because of the delay in execution of buyer builder agreement after payment of more than 10%  of the cost of apartment/plot/building can a file a complaint before RERA Authority of the State for execution of the agreement. If builder denies to execute … Continue reading “Will RERA execute the builder-buyer agreement as the Builder fails to do so?”

The Real Estate (Regulation And Development) Act, 2016- A Boon for the Flat Buyers

The parliament in order to regulate this one of the fastest-growing sectors passed “The Real Estate (Regulation and Development) Act, 20164 which came into effect on 1st May 2016.

Incorporation of One-Sided Clauses in an Agreement Constitutes Unfair Trade Practices: NCDRC

Incorporation of one-sided clauses in the agreement where the buyer is expected to sign on the dotted lines having no other option would amount to unfair trade practices under the Consumer Protection Act, 1986.

How to take maximum benefit from RERA as a Homebuyer and as a builder?

RERA was established to do away with project delays, malpractice, and irregularities in norms and increase transparency and accountability from builders and homebuyers both.

Is your house stuck in a stalled real estate project? How did homebuyers take on builders to get their houses?

Some of the legal remedies available for the homebuyers of stalled real estate projects against builders in case of disputes or grievances. Homebuyers can protect themselves from builders in India and ensure that they get their dream home without any hassles.

Landowner in a development agreement cannot be considered a Financial Creditor

The Corporate Debtor would carry on construction and out of total saleable construction 32% will be of landowner and remaining 68% will be of the Corporate Debtor.

Limitation is continuous in cases of Homebuyers

If a homebuyer failed to file his/her case then will his/her case will not be taken and his grievances won’t be solved? The answer to this question is “NO”! The reason here is that the limitation period in the case of a homebuyer is continuous in view of the non-handing over of the possession of the unit.