How to get your Money if the builder has filed appeal against you?

 How to get your Money if the builder has filed appeal against you

Status as on- 16/11/2019

INTRODUCTION

Real Estate Regulation and Development Act was implemented in the year 2016 with the aim of balancing the Real Estate Sector and majorly to protect the homebuyers from the hands of mighty and powerful builders. RERA Authorities across India have passed many landmark judgments and have tried their best to get justice to the aggrieved homebuyers. The recent trend that can be seen in terms of delaying the relief to the homebuyers is that of filling appeal at the end of the builders before the RERA Tribunals.

PRE-REQUISITE TO RERA APPEAL

Now, you as an aggrieved homebuyer may think it as a hurdle or delay tactic at the end of the builder but there is one catch that most of the homebuyers out there aren’t aware of and most advocates also do no clear this to their clients. The point of catch is in Section-43(5) of the RERA Act which clearly lays down that in case any builder wishes to file an Appeal he is mandated to make the deposit of the whole amount which is due to be paid to the Aggrieved homebuyer as per the order of RERA Authority against which appeal is being preferred.  That this is lifesaving provision for all the homebuyers out there as once the amount is paid or let say the pre-deposit is made then no separate execution needs to be filed and on disposal of appeal the said deposited amount shall automatically on the plain application be paid to the aggrieved homebuyer.

Recently, in first of its kind, the RERA Gurugram Authority in the matter of Selene Constructions V. Tarun Aggarwal (Appeal No. 55/2018) realized the pre-deposit amount of delayed interest deposited by the builder at the RERA Tribunal in the favor of the Buyer.

CONCLUSION

Thus, in case you are an aggrieved homebuyer out there against whom builder has filed an appeal don’t feel agitated rather take this opportunity to get the money through the means of RERA Tribunal using Section-43(5). This is the most efficient and quick way to recover money and don’t let this opportunity go away due to ignorance of the law.

Disclaimer – The above article is based on the order and interpretation of related laws, for general awareness. The readers are expected to take expert opinion before reliance on the article. For any clarification, please read at support@centrik.in

 

 

 

 

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