Getting your own house built is full of challenges for everyone. After going through all these challenges like raising money, government permission, legal proceedings, finding a good builder and getting the house of your choice built becomes even more difficult. The builder’s excuses and his habit of procrastinating create a lot of problems for the customer. To solve these problems of the customers, the government formed RERA. RERA means Real Estate Regulatory Authority. The purpose of RERA is to increase the investment of buyers in the real estate sector and protect their interests. After the implementation of RERA,

Since then, transparency has increased between property buyers and builders. Now many kinds of problems of customers are being resolved. The biggest achievement of RERA is that it is reducing disputes between customers and builders and establishing a better relationship between the two. With everything being clear, the real estate sector will develop at twice the speed. For more information related to RERA, you can also visit the RERA site.

Well there is also an option

RERA is the protector of the rights of the customers. The rules of the country give the customer the right to claim the right in case of any irregularity.

Or if there is a delay in the completion of the project, he can ask for the money paid to the builder for the house back with a 10% penalty. Section 31 of RERA gives the home buyer the right to complain to the authority in case of delay in the residential project. Along with the builder, the home buyer can also complain against the real estate agent through whom he has invested in the project. According to Section 79 of RERA, only the officer appointed under RERA and the appellate authority have the right to intervene in disputes related to real estate. The intervention of the civil court in cases related to the Real Estate Regulatory Authority is prohibited. However, the consumer forum is not prohibited from hearing it. Consumer forums from national to district have the right to hear such cases.

RERA is a government body, so it is necessary to register with it before building a house. Before getting registered, you have to keep some things in mind like you cannot do any promotion or advertisement of your house or building until you get permission. Along with this, you have to provide information about government approval, layout, sub-contractors, land titles in advance. If there is any kind of addition or change, then its information will also have to be given to RERA. Overall, you have to tell RERA every small and big information related to the house or land.

RERA is not only beneficial for customers but also for builders. By joining RERA, builders can increase the trust of investors on them because cases of fraud by private companies are often reported but such cases are rarely seen in government works, so by joining RERA, builders can win the trust of investors. RERA also ensures that builders get all the material of good quality and on time.

Domestic Building Contracts Act: Under this Act, protection of the interests of home buyers was talked about

If the builder delays in giving possession of the house, a complaint can be lodged. Apart from this, monitoring of whether the project is being built as per the approved plan or not, or whether it is being completed in the stipulated time or not also comes under this law. The construction quality of the house is also affected

Under Section 18(1), if the project is delayed in completion or possession is not given within the time limit set in the agreement, the builder or developer will have to refund the entire money. If the builder does not return the amount within the time limit set by the authority, he may face a jail term of up to 3 years or a fine of 10 per cent of the estimated cost of the project.

If the builder changes the date of possession 2 in between, then the buyer has the right to refuse to buy the house in the project. RERA also gives the buyer the right to claim a refund within 45 days.

After change in possession date, 3 buyers also decided to buy the house

If the demand persists, the builder will be responsible to pay him monthly compensation along with interest till the handover of the house. This monthly interest rate will be decided as per the law. And if this does not happen, the buyer can apply for it to the authority.

Source-Dainik Bhaskar