Amrapali Group — builder buyer agreement | |
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 the same, the secretary has power to enter in to the agreement on behalf of the respondent at cost of complainant. Should builder buyer agreement be compatible with rera? Will rera execute the builder if he fails to deliver the project on time? Was this information helpful? | |
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 12 Comments | |
Comments
Yes, It should be. If builder fails to deliver project on time then you can file complaint with RERA Authority and ask for relie[censored]nder Section 18 of RERA Act
Reply
Yes, If the builder is declared insolvent RERA authority has powers to attach the properties/plots/flats of the builder through the Collector and get it auctioned and recover the home-buyers money.
Yes, Only then promoter's promise will now have a legal standing to it. Along with all the required documents
It should be because several projects get delayed due to encumbrances which can restrict the promoter's ability to transfer title to the property. A written affidavit has to be provided by the promoter that the land is free from all encumbrances
Yes, The agreement should be in compatible with RERA. Only then RERA can excute the builders because they are accountable as per the agreement.
The builder stands not only to lose the registration of the project too but may also be punishable by imprisonment for a term which may extend up to three years
The biggest deterrent to delay in delivery is the clause that allows for compensation to the flat purchaser in the event of delay in delivery
Section 14 of the RERA prohibits developers from making any amendments to the sanctioned plan of the project, without the prior consent of the home buyers
RERA assures you with protection against any kind of mishap caused to you regarding the property, no matter good or bad the builder is by character, RERA secures you with it
RERA has taken steps to not only make the promoter accountable but also make them pay compensation and penalty in cases of default of any provision of the rules
I have booked flat in year 2015. Flat number original was P2 1206 and 1208
Later on this booking was transferred to Tower F flat number 3004 and 3006
I have 30% of total amount
May i get the status of these flats
Regards
Punit Sharma
Later on this booking was transferred to Tower F flat number 3004 and 3006
I have 30% of total amount
May i get the status of these flats
Regards
Punit Sharma
Hello
If a builder is not providing you possession RERA is the best option.
but if interest during delayed possession, or refund of amount is not done then NCLT is the option.
Also if company has filed insolvency, RERA can't help.
NCLT is good option it is very fast and inexpensive.
Please read following article for more information
https://dnrlegal.in/index.php/bankruptcy-lawyers-in-delhi/
About Us:
We are D & R Law Offices, Corporate law firm in Delhi, dealing with recovery and real estate issues.
Visit our website: https://dnrlegal.in/
Read Articles: https://dnrlegal.in/index.php/bankruptcy-lawyers-in-delhi/
Contact Us: https://dnrlegal.in/index.php/startup-lawyers-in-delhi/
If a builder is not providing you possession RERA is the best option.
but if interest during delayed possession, or refund of amount is not done then NCLT is the option.
Also if company has filed insolvency, RERA can't help.
NCLT is good option it is very fast and inexpensive.
Please read following article for more information
https://dnrlegal.in/index.php/bankruptcy-lawyers-in-delhi/
About Us:
We are D & R Law Offices, Corporate law firm in Delhi, dealing with recovery and real estate issues.
Visit our website: https://dnrlegal.in/
Read Articles: https://dnrlegal.in/index.php/bankruptcy-lawyers-in-delhi/
Contact Us: https://dnrlegal.in/index.php/startup-lawyers-in-delhi/
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