Rights of buyer under RERA
RERA legislation and regulations aim to safeguard homebuyers or allottees from unlawful practices by builders and provide them with an efficient mechanism to address grievances.
The Real Estate Regulatory Authority (RERA) was introduced in 2016 and enforced in 2017 in various Indian states to streamline and enhance the real estate sector by fostering transparency and accountability. RERA registration is mandatory for buildings with more than 8 units or land development exceeding 500 sq m. RERA legislation and regulations aim to safeguard homebuyers or allottees from unlawful practices by builders and provide them with an efficient mechanism to address grievances.
Section 19 within Chapter 5 of the RERA Act, 2016 outlines specific rights of homebuyers or allottees, which are as follows:
1. (Section 19(1)) Right to Access Information: Homebuyers have the entitlement to access project information, including approved plans, layout plans, RERA registration numbers, and specifications authorized by the competent authority.
2. (Section 19(2)) Right to Know Completion Schedule: Homebuyers have the right to be informed about the stage-wise schedule for project completion, including provisions for water, sanitation, electricity, and other amenities as stated in the agreement for sale.
3. (Section 19(3)) Right to Claim Property Possession: Homebuyers can claim possession of the property, including common areas, once all necessary formalities are completed, and the required payment has been made.
4. (Section 19(4)) Right to Claim Refund: Homebuyers have the right to file a complaint under RERA and seek a refund of the amount paid, along with interest and compensation, if the builder fails to meet the terms specified in the sale agreement or discontinues business due to registration suspension or revocation. Developers are given an opportunity to set a reasonable delivery timeline; otherwise, they face penalties. Dissatisfied buyers can also appeal to the Appellate Tribunal.
5. (Section 19(5)) Right to Obtain Documents: Upon receiving physical possession of the property from the developer, homebuyers are entitled to relevant documents and plans, including those pertaining to common areas.
6. Rights in Case of Defects: If structural defects or quality issues arise within 5 years of possession, the builder must rectify these within 30 days at no additional cost to the buyer.
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