Rera Completion Date Vs Agreement Possession Date

No, I still haven`t signed the agreement. Let me know your thoughts. RERA is Real Estate Regulation Act-2016 law was passed with the aim of regulating the real estate sector in India. The real estate sector contributes 9% of GDP and is the second highest employment generator after agriculture. It was necessary to regulate the area because of the existence of a large number of owners who had fallen behind in their obligation to assign ownership of real estate to assignments. Real estate fraud in India is obvious and the need to regulate contractors was important, then there are unilateral agreements and fraud of the owners Made The Consumer Protection Act, 1986 is the law that aims to offer better protection of the interests of consumers. Anyone who provides services for a fee is a consumer under the law. It provides consumers with remedial measures to deal with failing services. When land is allocated or developed by a legal authority or a house is built for the benefit of a single person, it is as such a “service” as by a contractor or contractor. If the property is not delivered within a specified time frame, the delay caused is the denial of “service.” These disputes or claims are characterized as a failure to provide services of certain standards, quality or quality. A person who has applied for building land or housing built by the development authority or has entered into an agreement with a contractor or contractor is a potential user and the type of construction is covered by the term “service” of a description. Thus, the Consumer Protection Act provides protection against denmaniers and developers. Anyone who is dissatisfied with the services or is delaying the delivery of the property can contact the Consumer Forum to get home.

Consumers can turn to retover forums for performance defects at different stages of housing. Short Facts This complaint was filed to instruct the respondent on the implementation of a contract registered for sale in a registered project, as the complainant had already paid nearly 78% of the sales compensation. In accordance with RERA`s instructions, the sales number was registered, but the date indicated in the sale decision was different from what RERA was made available at the time of registration. The buyer should search for projects registered on the website as part of RERA and in the draft contract. This agreement should be verified by a lawyer to verify that it is in compliance with the RERA. The buyer should also check the date of ownership mentioned in the agreement and, if applicable, the “grace period.” Ideally, six months should be the maximum additional period from the date of ownership set out in the contract. In accordance with the Maharashtra Ownership of Flats Act of 1963 (MOFA), the exact date of possession must be announced in the purchase agreement. As a result, the agreement has been cancelled in many cases. A specific clause of the agreement, called a “compensation clause”, can also be introduced, since the promoter is obliged, in the event of a non-conclusion of a project, to pay a certain amount to the buyer each month. In any case, why not ask the builder himself why there are differences between the completion of the project in accordance with the agreement and as stated on the site.

My case is similar. In my registered contract, August 31, 2019 is the completion date with an additional 6 months.