Flat Agreement: Payment Clause Dispute
1 year ago
I have purchased flat under construction from a reputed Developer. As per our registered sale agreement 30% payment to promotor account and 70% to RERA account as per clause 3(v):
"It is clarified that the Sale Consideration shall be payable by the Allottee in the Bank
Account No. xxxx maintained with xxxx Bank, Sion Branch (“the said Account”). It is clarified that in accordance with RERA and the RERA Rules, 70% of the Sale Consideration shall be transferred in
the Bank Account No. xxxxxx maintained with xxxxxBank, Sion Branch (“the RERA Account”). ”). It is further clarified between the parties that, if more than 18% Sale Consideration has already been
received by the Promoter, then as the case may be, the Balance Consideration shall be paid by the Allottee in the RERA account". The promotor is now insisting that balance amount should be transferred to their account (builder/promotor). Please advice is promotor demands is justifiable? Should I pay balance amount to Promotor or RERA ?
You may go to RERA and file an application to resolve your issue and before that it is better to get issue a legal notice.
As per RERA rules you have to deposit 70% to the RERA Account and 30% of the estimated value of construction cost to the developer within in the written agreement. If there is any issue arises then you can file a compliant to the RERA.
I hope it helps.
Anonymous
Replied 1 year ago
Thanks Anik, I will discuss with developer to sort out or else lodge a complaint with RERA.
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