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.
Everyone wishes to live peacefully in a well maintained house of their choice and that is why they invest their life time hard earned money in big projects developed by builders. But does it really fulfill their dreams?
Completion Certificate contains all the important information about the project including location, details of developer/agents, material used for construction and whether the project has been built in accordance with the building plans or not.
Continuous demands of the project developers for extension of RERA registration have posed a major question of marginalizing the interest of the Homebuyers.
The RERA Authority issued warrants of attachment in respect of Rs 91.41 lakh to four bank accounts of M/s Supertech for deduction of the amount.
This proactiveness has been further accelerated by the landmark judgment of the Hon’ble Supreme Court in the Pioneer case.
The officials of the UPRERA Authority have decided not to encourage refund if the project is not stalled and have the potential of getting finished and delivered.
RERA now has become the most preferred authority where the aggrieved home-buyers can reply upon for the redressal of their grievances.
The RERA is going to override the arbitration clause in the agreement. And keeping the same in view it is advisable to the aggrieved home- buyers that they should reach before RERA