A builder cannot mechanically forfeit the entire booking amount merely because the homebuyer cancels the booking. Under RERA, a promoter cannot accept more than 10% of the cost of the apartment, plot or building as advance payment without first entering into a written agreement for sale. In builder-buyer disputes, forfeiture must also satisfy the test...
Read More
Confused between RERA and Consumer Commission? Learn which forum is better for delayed possession, refund, compensation and builder-buyer disputes.
Read More
Section 18 RERA 2016 gives a homebuyer the right to claim refund, interest and compensation where the promoter fails to complete the project or deliver possession in accordance with the agreement for sale. The allottee may either withdraw from the project and claim refund with interest, or continue in the project and claim interest for...
Read MoreThe Real Estate (Regulation and Development) Act, 2016, commonly known as RERA, was enacted to bring transparency, accountability and discipline into India’s real estate sector. The statute establishes real estate regulatory authorities, appellate tribunals, and an adjudicatory framework for disputes between homebuyers, promoters, developers and real estate agents. The Act expressly aims to protect consumers...
Read More
Introduction RERA – Buying a home is a dream for many, but it often comes with challenges such as delays in possession, hidden costs, and unfulfilled promises. To protect home buyers from such issues, the Real Estate (Regulation and Development) Act, or RERA, was introduced in 2016. This act has brought a significant change in...
Read More
Rights of Real Estate Agents under the RERA Act in India Real estate agents , The Real Estate (Regulation and Development) Act, 2016 (RERA) has been instrumental in streamlining and regulating the real estate sector in India. While the act primarily focuses on protecting the rights of property buyers and enhancing transparency and accountability in...
Read MoreRERA Housing is one of the fundamental requirements of humans, as is well-known. Access to adequate accommodation can be a prerequisite for the enjoyment of several human rights, including the rights to work, health, social security, suffrage, privacy, and education. Humans have an inherent requirement for safe, secure, and adequate accommodation. Recognizing the severity of...
Read MoreTable 1: Article Outline RERA Heading Subheading Introduction 1. What is RERA? 2. Why was RERA introduced in India? 3. Key features of RERA 3.1 Registration of real estate projects 3.2 Transparency and accountability 3.2 Transparency and Accountability 4. Benefits of RERA for homebuyers 5. Impact of RERA on the real estate sector 6. Challenges...
Read MoreIntroduction Are you curious about the ins and outs of RERA? Look no further! This comprehensive guide will walk you through everything you need to know about the Real Estate Regulatory Authority and its significance in the real estate industry. Whether you’re a potential homebuyer, a real estate agent, or simply someone interested in the...
Read MoreIntroduction Welcome to our comprehensive guide on execution petitions in RERA cases. In this article, we will explore the intricacies of execution petitions and their significance in ensuring justice and compliance in the real estate sector. As the real estate industry continues to grow rapidly, the need for an effective dispute resolution mechanism has become...
Read More