How to execute a RERA order under Section 40: refund recovery, interest, compensation, recovery certificates, promoter appeals, pre-deposit and enforcement procedure.
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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...
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Confused between RERA and Consumer Commission? Learn which forum is better for delayed possession, refund, compensation and builder-buyer disputes.
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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...
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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 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 MoreIntroduction Section 8 of RERA Act – The Real Estate (Regulation and Development) Act, 2016, commonly known as RERA, marked a significant milestone in the Indian real estate sector. Its primary aim was to bring transparency, accountability, and efficiency to the real estate industry, which was plagued by issues like delayed project deliveries and financial...
Read MoreIntroduction RERA – Buying a home is a significant milestone in one’s life and often represents a substantial financial commitment. However, the real estate sector in India has had its share of challenges, including delays in project completion, quality concerns, and unfair practices by builders. To address these issues and safeguard the interests of homebuyers,...
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