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what are the Rights and Duties of Aloottee/s under RERA Act

presently RERA Act has come into force in the country to maintain transparency and to protect the rights of Home Buyers and also to regulate the real Estate Industry. RERA act is a very powerful legislation enacteed in the country in the interst of both consumers and real estate Builders/developers. The effective implementation of the act by concerned authorities will make the act more effective. The act has been effectively implemented in Maharashtra and there are several judgments also rendered by the authorities to protect the interest of home buyers & Developers/Builders. yet this act needs to be effectively implemented in karnataka and many other states of the country to ensure protection transparency & accountability with growth to the real estate sector.

 RERA Act prescribes certain rights & duties on the part of allottee/s also. Though Rera act gives protection to the Home buyers it also ensures that home buyers should perform their part of contract, duties and responsibility for the effective implementation of laws.

-     An allottee/s is entitled for getting sanctioned plans, layout plans approved by the competent authority along with specifications. Further allottee/s is entitled for all such information as required under the act.

-     Allottee/s is entitled to know the stage wise completion & development of the project along with provisions for electricity, water, sanitation with other amenities as promised under the agreement terms.

-     Allottee/s is entitled for the possession of the apartment/plot or building as the case may be while the association of allottees shall be entitled for possession of common areas of the project as per the declaration of promoter under sec.4(2)©(i) of the Act.

-     Allottee/s shall be entitle to claim for compensation or refund as per the provisions of this act under sec.18 along with terms of agreement.

-     Allottee/s is entitled for plans & specifications of building & common areas along with physical possession of the flat, plot or building as the case may be.

-     Allottee/s who have entered into the Agreement for sale under sec.13 of this Act, shall make the payments as specified in the agreement in time, shall also make the payment of registration & stamp duty charges along with statutory duties, charges, tax etc.

-     Allottee/s will be liable to pay the interest charges in case of delay in the payments as specified & agreed therein.

-     Allottee can get the interest reduce on mutual discussion with the builder/developer for the delay in payments.

-     Every allottee/s shall take part in the formation of the association of allottees under the provisions of companies act or cooperative societies act.

-     Every Allottee/s shall take possession of the apartment, plot or building in the project within two months from the ate of receipt of occupancy certificate.

-     Every allottee/s in the project shall after the completion of project & on receipt of occupancy certificate come forward & take the registration of the conveyance deed of the flat, apartment or building.

Posted On : June 30, 2020

Written By :
Sharada H v


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