What is RERA & What is the Objective of RERA?
RERA was formed to aid aggrieved purchasers and landowners at the hands of builders/promoters.
The objective of RERA is simple and as follows:
- To protect the interest of allotees/purchasers/landowners.
- To reduce fraud and misrepresentation.
- To ensure that all the relevant information is provided to parties.
- To ensure that contracts are enforceable.
- To provide a quick remedy to aggrieved parties. within a stipulated period of time.
- To create confidence amongst people whilst purchasing properties or entering into joint venture agreements.
What are the powers of RERA?
RERA has many powers as stipulated under the Act. However, an eye opener to many buyers/purchasers is the fact that RERA has the powers to demand the Promoters/Landowners/Builders to pay Compensation to the Purchasers. Moreover, RERA has the powers to order refunds to the purchasers. Furthermore, compensation is usually ordered with a rate of interest (Annual) which is the discretion of the RERA tribunal.
RERA has also the inherit power to grant an injunction towards stopping the sale of a scheduled property.
RERA also has the powers to decide petty issues with regard to the parking slot allotted to the purchasers by the builders/promoters/landowners.
Who should approach RERA?
Every Consumer/Purchaser who has been aggrieved by the promoter for various reasons as stipulated under should approach RERA for appropriate remedy:
- Delay in possession of Flats/Apartments.
- Joint Venture Agreements gone wrong.
- Issues with regard to Common Area/ Allotment of Parking
- Purchase of Vacant land leading to refusal to return the advance amount paid towards booking.
- Fraud committed by Promoters/Builders Eg: Pledging the Property, Executing Sale deeds without consent of the landowner, Subcontracting word to third party builders without permission of the landowner, etc.
When should you approach RERA/ Timeline for the case to come to an end?
It would be wise to consult with an Advocate/Lawyer/Attorney who specializes in RERA disputes. The age old saying “The Sooner the Better” is always advisable to all aggrieved parties.
RERA – 120 DAYS
RERA APPELATE TRIBUNAL – 60 DAYS
RERA TRIBUNAL COURT PROCEDURE:
- DRAFTING COMPLAINTS >
- FILING COMPLAINTS ALONG WITH DOCUMENTS TO BE ENCLOSED >
- FIRST HEARING >
- RESPONDENT TO FILE COUNTER >
- ARGUMENTS/ SUBMISSIONS TO BE MADE BY COMPLAINANT & RESPONDENT >
- CLARIFICATIONS (IF ANY)>
- ORDER OF RERA TRIBUNAL.
Why should you appoint an Advocate to represent on your behalf in cases under RERA?
To begin with, you should always consult with an advocate for a legal scrutiny report/legal opinion before entering into the following:
- Entering into a Joint Venture Agreement
- Granting a General Power of Attorney to a Promoter/Builder.
- Purchase of a Vacant plot of Land
- Purchase of a Apartment/Flat as advertised by a builder.
However, in circumstances where you refuse or forget to consult with an Attorney; it is always best to hire professional legal services.
There are only a handful of Advocates who have an Active Practice before the RERA tribunal. Here are the following reasons you should always hire an attorney to represent your case:
- They are well versed with the sections of law stipulated under the RERA act and can interpret the legal jargons far better than the common man.
- They have a wealth of experience arguing before various courts & tribunals and hence they are more accustomed to this area of practice than the common man.
- They have in depth knowledge to a catena of judgements passed by the Hon’ble Supreme Court of India, High Courts & RERA Tribunals.
ADVANTAGES OF RERA:
- RERA clearly defines the functions and duties of a promoter
- RERA clearly stipulates that no promoter/building can commence construction without registering under RERA.
- RERA clearly stipulates that no deposit or advance is to be taken by the builder without entering into a sale agreement.
- RERA returns any amount which has been paid to the promoter and also awards compensation for any mental agony or damages caused to the complainant.
- RERA levies various penalties on builders and promoters.