This solution is 'panacea' if builder troubles you!

The Real Estate (Regulation and Development) Act was brought in the year 2016 to protect the interests of home buyers. The purpose of this law is to set up a Real Estate Regulatory Authority (RERA) at the state level to regulate the real estate sector.

So what are the advantages of RERA:

1. Any builder who is preparing a project on more than 500 square meters of land or building more than 8 apartments, it is necessary to get such projects registered under RERA. If a builder sells or tries to sell an unregistered project, a complaint can be made to RERA. If a violation of the law is proved, a penalty equal to 10 percent of the project value can be imposed.

2. The problem faced by most of the home buyers is not getting the house on time. If the builder delays the delivery of the house as per the agreement to sell, then the home buyer can file a complaint with RERA to get possession. If you want to continue with the project then you can ask for delayed interest till you get possession. If the project is running late and there is no chance of getting the house, then you can apply for a refund with interest.

3. If a buyer, is misled by the wrong advertisement or prospectus and deposits the advance or suffers loss due to any wrong information, then the promoter i.e. the builder will have to pay compensation.

4. If the builder mentions any facility, but the home buyer feels that the project does not have these facilities, then he can complain to RERA. The buyer can come out of the project after taking the money. If he does not come out of the project, he can ask for compensation.

5. If a structural defect is found in a project, then the buyer can claim compensation for 5 years from the date of receipt of the occupancy certificate… The builder will have to rectify the defect within 30 days without any additional charge, otherwise, the buyer will be entitled to compensation. ..

6. Major changes in the layout of the project require two-thirds of the approval of the home buyers. This right belongs to the home buyers to involve their side in the changes being made and it is the obligation of the builder not to make changes in the layout as per his wish. If the builder does this then a complaint can be lodged.

How can you complain with RERA?

If a project promoter or a real estate agent violates the provisions of the Real Estate Regulation Act, a complaint under section 31 of the Act can be made to the Real Estate Regulatory Authority of the concerned state. Allottees i.e. buyers can register complaints both online and offline.

For example, online complaint can be lodged by going to the Complaint Section on the website of Uttar Pradesh RERA i.e. UP RERA. Complaint can be lodged in the RERA office by filling Format-M. For this only a fee of Rs 1,000 has to be paid.

Anchor Closing

If you don’t want to be bothered like Nikhil then keep a few things in mind. Don’t buy a house on the advice of any acquaintance or relative. Check RERA registration of the project before buying the house. Check the track record of the developer i.e. whether he has completed the project in the past and has delivered or not. Keep all the documents related to the project and the house ready before complaining. For cases before the implementation of RERA law, approach consumer court or court.