The RERA act has brought the benefits to the aggrieved home-buyers in huge quantum but still after a year there are multiple issues over various provisions of the act which needs to have some clarification.
H-RERA has announced that alongside with the people who have purchased homes from private developers, the allottees of the HUDA can also knock the door of RERA Authority.
The real estate sector was unregulated for a long time. If customers experienced delays, they had little redress. Because court disputes may take a long time, most customers were at the discretion of the builders. A proper complaint process has emerged as a result of the implementation of RERA.
Real Estate Regulatory Authority Act, 2016 (hereinafter referred to as “RERA Act”) basically aims to bring efficiency and transparency to the real estate industry, and one of the main priority to protect the interest of the buyers in the real estate sector.
RERA was implemented to acknowledge and solve discrepancies and issues of home buyers. By establishing rules for the sale of real estate and requiring developers to adhere to certain criteria, it protects the interests of homebuyers.
Section 8 of the RERA is an essential clause that guarantees the protection of homebuyers’ interests in the event that the registration of a real estate project is canceled or expires.
RERA was established to do away with project delays, malpractice, and irregularities in norms and increase transparency and accountability from builders and homebuyers both.
A respondent has violated the provisions of section 18 of the RERA and hence the complainant is entitled to seek interest for the delayed possession under section 18 of the RERA.
the orders passed by Rajasthan RERA that the Bank after exercising their rights over the real estate project under Section 13 of the SARFAESI Act becomes the assignee of the builder and are amenable to the jurisdiction of the RERA Authority.
The allottees long waiting for justice will now be able to secure the relief with the speedy process of hearing by single member benches.
If a buyer is dissatisfied with the RERA Authority’s judgement, he or she may file an individual appeal or a buyers’ group may file a collective appeal with the RERA Authority.
The Authority has the power to hear the grievances of the allottees regarding execution of the orders and the Authority also has the powers to pass orders:
Hon’ble Supreme Court has reiterated and upheld that legal position of the Flat Buyers Association as consumer and has also made it clear that the builder cannot occupy any place, without the permission of the association, after the project is handed over.
The RERA Authority has the power to decide and dispose of the complaints as RERA is the best and most expeditious remedy for homebuyers to get justice from the builder when they violate the subvention scheme and delays the possession.
The provisions were not sufficient to render punishment to the developer and the builder for misconducting and breaching the terms and conditions of the builder buyer agreement in the long run.
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