Last Updated on June 15, 2024 by Satish Mishra
RERA is your gateway to protection, quality assurance, transparency , timely delivery and swift legal .
RERA has changed how reality transactions once used to take place. The Act fosters discipline, accountability and standards amongst the builders in Real Estate Industry of India.
Not to forget penalties and offences under the act for non compliance . Over in all a perfect rule book to abide by but for both builder and allottee.
Also Read- RERA RETROACTIVE NOT RETROSPECTIVE
RERA is definitely the way to go for homebuyers when in difficulty.
Now, the provisions that strengthens consumer/buyer stand in the property transaction. Though the entire act brings harmony between the three; allottee, builder and real estate agents.
Let us see the most promising one:
3 – Prior registration of real estate projects with Real Estate Regulatory Authority before selling or advertising the project.
1 2 – Obligations of promoter regarding veracity of the advertisement or prospectus.
13- No deposit or advance to be taken by promoter without first entering into agreement to sale.
14- Adherence to sanctioned plans and project specifications by the promoter. Also defects in building covered for 5 years and need to be rectified within 30 days .
18 – Return of amount and compensation if not able to give possession or complete the project on time with interest. Defective title and any obligation if developer fails to discharge will be covered.
31- Filing of complaints with the Authority or Adiudicating Officer for any contravention or violation of Act , rules & regulations made thereunder.
36- Power to issue interim orders without issuing notice to the other party.
39- Rectification of orders if there is any clerical mistake.
40 – Recovery of interest or penalty or compensation and enforcement of order etc as arrears of land by revenue authority.
57 Orders passed by Appellate Tribunal to be executable as a decree.
58 Appeal to High Court –Within 60 days from receipt of Appellate Court’s order.
59-68 Penalties for Sec 3,4, 9,10 and failure to comply with the orders of Authority, Appellate Authority and Adjudicating officer.
71 Power to adjudicate – to order compensation under Sec 12,14,18 & 19 by Adjudicating officer preferably a retired District Judge . Complainant can withdraw his present complaint from consumer court with liberty to file afresh in RERA forum.
72 Factors to be taken into account by the Adjudicating officer – how much default , whether repetitive and undue gain to other party. See surrounding circumstances.
Not the end but other provisions are also relevant which we will discuss in other post.
Also Read- NO OC WITHOUT CC – PUNJAB RERA
RERA Punjab and Haryana Panchkula Authority is vigorously following these provisions in the best interest of consumers. Apart from Act, both Punjab and Haryana RERA has made state rules to be followed by the Authority.
RERA is meant to strengthen builder- buyer relationship and bring harmony in real estate transactions.
If you need any subject specific legal assistance or legal advice on RERA matters in Mohali Punjab or Panchkula Haryana then our best RERA lawyers and advocates can assist.
Just dial 99888-17966 for quick info or mail us at [email protected]
