{"id":8453,"date":"2024-12-15T18:08:26","date_gmt":"2024-12-15T18:08:26","guid":{"rendered":"https:\/\/estateproperty.in\/all\/?p=8453"},"modified":"2024-12-16T07:05:55","modified_gmt":"2024-12-16T07:05:55","slug":"rights-of-property-buyers-under-rera","status":"publish","type":"post","link":"https:\/\/estateproperty.in\/all\/rights-of-property-buyers-under-rera\/","title":{"rendered":"Rights of Property Buyers under RERA"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]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\u2019s a detailed explanation of their rights<\/strong>:<\/p>\n

\n

1. Right to Information:<\/strong><\/h3>\n
    \n
  • Allottees have the right to obtain complete and accurate information about the project from the promoter, including:\n
      \n
    • Sanctioned plans, layout plans, and specifications approved by competent authorities.<\/li>\n
    • Stage-wise completion status of the project.<\/li>\n
    • Quarterly updates on the project’s progress via the MahaRERA portal.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
      \n

      2. Right to Know the Carpet Area:<\/strong><\/h3>\n
        \n
      • Allottees are entitled to know the carpet area<\/strong> of their apartment or property as defined under RERA. This excludes areas like balconies, lobbies, and open spaces unless explicitly mentioned.<\/li>\n<\/ul>\n
        \n

        3. Right to Possession:<\/strong><\/h3>\n
          \n
        • Allottees have the right to receive possession of the property upon receiving the occupancy or completion certificate from the promoter.<\/li>\n
        • They can also demand possession of common areas after they\u2019ve paid the full price and other dues.<\/li>\n<\/ul>\n
          \n

          4. Right to Claim Compensation for Delay:<\/strong><\/h3>\n
            \n
          • If the promoter delays the delivery of possession:\n
              \n
            • Allottees are entitled to interest on the amount paid<\/strong> for every month of delay.<\/li>\n
            • Alternatively, they can withdraw from the project and claim a full refund with interest and compensation.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
              \n

              5. Right to Refund:<\/strong><\/h3>\n
                \n
              • Allottees can withdraw from the project if the promoter:\n
                  \n
                • Defaults on the terms of the agreement.<\/li>\n
                • Fails to complete the project on time.<\/li>\n<\/ul>\n<\/li>\n
                • They can demand a full refund with interest and compensation.<\/li>\n<\/ul>\n
                  \n

                  6. Right to Demand Documents:<\/strong><\/h3>\n
                    \n
                  • Allottees have the right to access key documents such as:\n
                      \n
                    • Title deeds.<\/li>\n
                    • Approvals and sanctions.<\/li>\n
                    • Agreement for sale and other legal documents.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
                      \n

                      7. Right to Participate in Association Formation:<\/strong><\/h3>\n
                        \n
                      • Allottees have the right to form an association or society<\/strong> to manage the property.<\/li>\n
                      • The promoter is obligated to form the association within three months of allotting 51% of the apartments.<\/li>\n<\/ul>\n
                        \n

                        8. Right to Dispute Resolution:<\/strong><\/h3>\n
                          \n
                        • Allottees can file complaints with MahaRERA against the promoter for violations of RERA provisions.<\/li>\n
                        • They can also approach the MahaRERA Appellate Tribunal or Conciliation Forum for dispute resolution.<\/li>\n<\/ul>\n
                          \n

                          9. Right to a Fair Agreement for Sale:<\/strong><\/h3>\n
                            \n
                          • The promoter must draft the agreement for sale<\/strong> in accordance with the RERA Act and rules. It must clearly state:\n
                              \n
                            • Price details.<\/li>\n
                            • Payment schedule.<\/li>\n
                            • Possession date.<\/li>\n
                            • Rights and obligations of both parties.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
                              \n

                              10. Right to Transparency in Advertisements:<\/strong><\/h3>\n
                                \n
                              • Allottees can demand compensation for false or misleading advertisements published by the promoter that led them to purchase the property.<\/li>\n<\/ul>\n
                                \n

                                11. Right to a Defined Maintenance Timeline:<\/strong><\/h3>\n
                                  \n
                                • Allottees are entitled to maintenance of the property by the promoter for a period of five years<\/strong> after possession, covering:\n
                                    \n
                                  • Structural defects.<\/li>\n
                                  • Poor quality of construction.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
                                    \n

                                    Dispute Resolution Mechanisms for Allottees:<\/strong><\/h3>\n
                                      \n
                                    1. Complaints to MahaRERA:<\/strong>\n
                                        \n
                                      • File a complaint against promoters or real estate agents for violations of RERA.<\/li>\n
                                      • MahaRERA ensures speedy adjudication.<\/li>\n<\/ul>\n<\/li>\n
                                      • Conciliation Forum:<\/strong>\n
                                          \n
                                        • A mediation platform to resolve disputes amicably between promoters and allottees.<\/li>\n<\/ul>\n<\/li>\n
                                        • Appellate Tribunal:<\/strong>\n
                                            \n
                                          • If unsatisfied with MahaRERA\u2019s decision, allottees can approach the Appellate Tribunal.<\/li>\n<\/ul>\n<\/li>\n
                                          • Civil Courts and High Courts:<\/strong>\n
                                              \n
                                            • Further appeals can be filed in the High Court against the Tribunal\u2019s decision.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n

                                              [\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"

                                              [vc_row][vc_column][vc_column_text]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\u2019s 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: […]<\/p>\n","protected":false},"author":1,"featured_media":8460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126,226],"tags":[],"class_list":["post-8453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-knowledge-bank","category-property-buyers"],"yoast_head":"\nRights of Property Buyers under RERA - Find best property as per your requirement<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/estateproperty.in\/all\/rights-of-property-buyers-under-rera\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rights of Property Buyers under RERA - Find best property as per your requirement\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column][vc_column_text]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. 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