Regarding RERA rules applicable to Landowner.
Posted 1 year ago
Is the landowner treated as Promoter/Devoloper under RERA act, eventhough if specifically mentioned in the JDA that he has no role of Promoter as such, and the landowner is only entitled to his share of fully completed flats/shops, as a consideration for his land.
A.Dear Sir,
It depends upon several factors but land owner cannot shrink his responsibilities when he is receiving his share.
It depends upon several factors but land owner cannot shrink his responsibilities when he is receiving his share.
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A.Dear client, in my humble suggestion, the term "promoter" has a broad definition that includes all forms of promoters, including developers, builders, GPA holders, colonisers, contractors, and landowners in real estate projects. As a result, anyone who develops and sells falls within the definition of a Promoter.
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