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Property is RERA registered
6 months ago
We bought a flat in 2018 in Mumbai Kandivali west under Subvention scheme. The Property is RERA registrd We were to get possession in the year 2020 but now the builder needs extension & says that the possession will be in Dec 2024. He is asking for the buyers consent for extension. As we bought our flat under subvention scheme, the Pre-emi int. paid to bank is being refunded by the builder to us and he agreed to refund until possession. as per RERA can we still penalize the builder for delay.
A.Dear Client,
Yes, you can still penalize the Builder/Promoter for delay. The delay in delivery of possession of the apartment to the Buyer in violation of the terms of the agreement amounted to a deficiency in service on the part of the Promoter/Builder. The Buyer of the apartment can file a complaint under Sec.31 of the Real Estate (Regulation and Development) Act, 2016 before the Adjudicating Officer claiming compensation for the delay. The complaint may also be filed before the Consumer Court over alleged deficiency in service claiming compensation for delay and harassment within two years from the date of the cause of action, i.e, from the date of delay caused in violation of the terms of the agreement or on expiry of the date of extension of delivery of possession permitted by the concerned authority or denial of refund by the Developer. It may be noted that you cannot raise your complaint/claim relief simultaneously before the Consumer Forum and RERA for the same cause of action at a time.
Yes, you can still penalize the Builder/Promoter for delay. The delay in delivery of possession of the apartment to the Buyer in violation of the terms of the agreement amounted to a deficiency in service on the part of the Promoter/Builder. The Buyer of the apartment can file a complaint under Sec.31 of the Real Estate (Regulation and Development) Act, 2016 before the Adjudicating Officer claiming compensation for the delay. The complaint may also be filed before the Consumer Court over alleged deficiency in service claiming compensation for delay and harassment within two years from the date of the cause of action, i.e, from the date of delay caused in violation of the terms of the agreement or on expiry of the date of extension of delivery of possession permitted by the concerned authority or denial of refund by the Developer. It may be noted that you cannot raise your complaint/claim relief simultaneously before the Consumer Forum and RERA for the same cause of action at a time.
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A.Dear Client,
Under the Real Estate (Regulation and Development) Act, 2016 (RERA), there are provisions that provide protection to homebuyers in case of project delays. In such cases, the builder should be responsible for any delays and should provide compensation for the same. Builders often seek consent from buyers for project extensions, as you mentioned. However, your consent doesn't mean you waive your rights under RERA. It's essential to have a clear understanding of what you are consenting to and what compensation or benefits you are receiving in return for the extension. RERA specifies that builders are liable to pay penalties to homebuyers in case of project delays. The exact penalties may vary from state to state. However, builders are generally liable to pay interest on the amount paid by buyers for each month of delay. If the builder has agreed to refund pre-EMI interest to you until possession, this is a positive step, but it doesn't absolve the builder from the penalties for delay under RERA. The fact that the property is RERA registered is in your favor, as it means the builder is bound by RERA regulations and has to comply with the provisions of the law.
Under the Real Estate (Regulation and Development) Act, 2016 (RERA), there are provisions that provide protection to homebuyers in case of project delays. In such cases, the builder should be responsible for any delays and should provide compensation for the same. Builders often seek consent from buyers for project extensions, as you mentioned. However, your consent doesn't mean you waive your rights under RERA. It's essential to have a clear understanding of what you are consenting to and what compensation or benefits you are receiving in return for the extension. RERA specifies that builders are liable to pay penalties to homebuyers in case of project delays. The exact penalties may vary from state to state. However, builders are generally liable to pay interest on the amount paid by buyers for each month of delay. If the builder has agreed to refund pre-EMI interest to you until possession, this is a positive step, but it doesn't absolve the builder from the penalties for delay under RERA. The fact that the property is RERA registered is in your favor, as it means the builder is bound by RERA regulations and has to comply with the provisions of the law.
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