𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐡𝐨𝐦𝐞𝐛𝐮𝐲𝐢𝐧𝐠 𝐩𝐫𝐨𝐜𝐞𝐬𝐬

ALLOTTEE/HOMEBUYER

In relation to a real estate project, means the person to whom a plot, apartment, or building, as the case may be, has been allotted, sold (whether as freehold or leasehold), or otherwise transferred by the Promoter, and includes the person who subsequently acquires the said allotment through sale, transfer or otherwise but does not include a person to whom such plot, apartment or building, as the case may be, is given on rent.

• Information Related to Plans - to obtain the information relating to sanctioned plans, layout plans along with the specifications, approved by the competent authority and such other information as provided in RERA or the rules and regulations made thereunder or the Agreement for Sale signed with the Promoter.

• Status of the Project - to know stage-wise time schedule of completion of the project, as agreed to between the Promoter and the Allottee in accordance with the terms and conditions of the Agreement for Sale.

• Possession - to claim the possession of apartment, plot or building, as the case may be, and the association of allottees shall be entitled to claim the possession of the common areas, as per disclosure made the Promoter under RERA.

• Right to Refund - to claim the refund of amount paid along with interest at such rate as may be prescribed and compensation from the Promoter in the manner as provided under RERA and in case the Promoter fails to or is unable to give possession of the apartment, plot or building, as the case may be, in accordance with the terms of Agreement for Sale or due to discontinuance of his business as a developer on account of suspension or revocation of his registration under the provisions of RERA or the rules or regulations thereunder.

• Take Physical Possession - take physical possession of the apartment, plot or building as the case may be, within a period of 2 months of the occupancy certificate in that regard.

• Details of All Documents/Plans Relating to the Apartment/Plot/Building - to have the necessary documents and plans, including that of common areas, after handing over the physical possession of the apartment or plot or building as the case may be, by the Promoter.

Rights of an Allottee/Homebuyer

Duties of an Allottee/Homebuyer

• Make Payments in a timely Manner - be responsible for making necessary payments in the manner and within the time as specified in the Agreement for Sale and shall pay at the proper time and place, the share of the registration charges, municipal taxes, water and electricity charges, maintenance charges, ground rent, and other charges, if any.

• Liability to Pay Interest - at such rate as may be prescribed, for any delay in payment towards any amount or charges to be paid which may be reduced on terms that may be mutually agreed to between the Promoter and the Allottee.

• Formation of the Association - to participate in the formation of an association or society or cooperative society of the allottees, or a federation of the same.

• Registration of the Conveyance - To participate in the registration process of the conveyance deed of the apartment, plot, or building, as the case may be.

Reliefs Available to Allottees:

1. Compensation / Refund + Interest: Homebuyers are entitled to receive compensation or a refund with interest if the promoter fails to deliver on the promises made at the time of sale. This provision ensures that buyers are not left financially burdened due to delays or defaults by the promoter.

2. Option to Withdraw from Project: In cases of significant delays or other breaches by the promoter, buyers have the option to withdraw from the project. They are entitled to a full refund of their investment along with interest, providing a safety net for their financial commitment.

Common Complaints:

1. Delayed Possession: One of the most frequent complaints under RERA is the delayed possession of property. Promoters are mandated to adhere to the project timelines specified during registration, and any failure to do so can lead to significant penalties and compensatory measures.

2. Defective Title of Land: Homebuyers can file complaints if the promoter has provided a defective title of land, which could jeopardize their ownership rights and investment.

3. Contravention of Provisions of the Act by Promoter: Any act by the promoter that contravenes the provisions of RERA, such as failing to register the project, misleading advertisements, or not providing promised amenities, can be grounds for a complaint.

4. Loss or Damage Due to False Statement by Promoter: Buyers who suffer loss or damage due to false statements made by the promoter can seek redressal under RERA. This includes any misrepresentation about the project's status, quality, or legal clearances.

The RERA framework not only offers a structured process for filing complaints but also ensures that grievances are addressed in a timely and efficient manner. This regulatory oversight fosters a more transparent and trustworthy real estate market, benefitting both homebuyers and developers by promoting ethical practices and accountability.

By understanding their rights and the mechanisms available under RERA, homebuyers can make informed decisions and seek timely justice for any grievances, thus enhancing confidence in the real estate sector.