Rights of Property Buyers under RERA

Under the Real Estate (Regulation and Development) Act, 2016 (RERA), allottees (property buyers) are granted significant rights to ensure transparency, accountability, and fairness in real estate transactions. Here’s a detailed explanation of their rights:

1. Right to Information:

• Allottees have the right to obtain complete and accurate information about the project from the promoter, including:
  • Sanctioned plans, layout plans, and specifications approved by competent authorities.
  • Stage-wise completion status of the project.
  • Quarterly updates on the project’s progress via the MahaRERA portal.

2. Right to Know the Carpet Area:

• Allottees are entitled to know the carpet area of their apartment or property as defined under RERA. This excludes areas like balconies, lobbies, and open spaces unless explicitly mentioned.

3. Right to Possession:

• Allottees have the right to receive possession of the property upon receiving the occupancy or completion certificate from the promoter.
• They can also demand possession of common areas after they’ve paid the full price and other dues.

4. Right to Claim Compensation for Delay:

• If the promoter delays the delivery of possession:
  • Allottees are entitled to interest on the amount paid for every month of delay.
  • Alternatively, they can withdraw from the project and claim a full refund with interest and compensation.

5. Right to Refund:

• Allottees can withdraw from the project if the promoter:
  • Defaults on the terms of the agreement.
  • Fails to complete the project on time.
• They can demand a full refund with interest and compensation.

6. Right to Demand Documents:

• Allottees have the right to access key documents such as:
  • Title deeds.
  • Approvals and sanctions.
  • Agreement for sale and other legal documents.

7. Right to Participate in Association Formation:

• Allottees have the right to form an association or society to manage the property.
• The promoter is obligated to form the association within three months of allotting 51% of the apartments.

8. Right to Dispute Resolution:

• Allottees can file complaints with MahaRERA against the promoter for violations of RERA provisions.
• They can also approach the MahaRERA Appellate Tribunal or Conciliation Forum for dispute resolution.

9. Right to a Fair Agreement for Sale:

• The promoter must draft the agreement for sale in accordance with the RERA Act and rules. It must clearly state:
  • Price details.
  • Payment schedule.
  • Possession date.
  • Rights and obligations of both parties.

10. Right to Transparency in Advertisements:

• Allottees can demand compensation for false or misleading advertisements published by the promoter that led them to purchase the property.

11. Right to a Defined Maintenance Timeline:

• Allottees are entitled to maintenance of the property by the promoter for a period of five years after possession, covering:
  • Structural defects.
  • Poor quality of construction.

Dispute Resolution Mechanisms for Allottees:

1. Complaints to MahaRERA:
   • File a complaint against promoters or real estate agents for violations of RERA.
   • MahaRERA ensures speedy adjudication.
2. Conciliation Forum:
   • A mediation platform to resolve disputes amicably between promoters and allottees.
3. Appellate Tribunal:
   • If unsatisfied with MahaRERA’s decision, allottees can approach the Appellate Tribunal.
4. Civil Courts and High Courts:
   • Further appeals can be filed in the High Court against the Tribunal’s decision.