RERA ACT

RERA which is the Real Estate Regulatory Authority. The Real Estate Act 2016 was passed by the Indian Parliament. RERA looks to save the interests of home buyers and to improve investments in the real estate sector. The RERA bill was passed by Rajya Sabha in 10thmarch,2016 which is also followed by the Lok Sabha on 15thmarch,2016, and came into the process from 1st May 2017. The basic motive of RERA is to help buyers from the malpractices of unjust builders. It also pays focus onto creating equitable and unbiased transaction between sellers and buyers of properties.

RERA also made rules of registration of projects for agents, the proper revelation of information which is related to the work whenever buyer will require.

Filling any complaint under RERA is very suitable and simple. Complainants need to pay a sum to the respective state authority for registering a complaint under the act.

HOW TO FILE A COMPLAINT?

Any buyer can file a complaint online on the website and buyers are required to just fill up a form and paying the registration fees.

STEPS ARE GIVEN BELOW:

Step1: – Complainants are required to visit the State’s official website, then need to search for the complaint registration.

Step2: – Choose the complaint registration link. After the opening of the link, buyers are required to fill in the details.

Step3: – Customers need to submit their personal details which will include name, address, contact details, and need to submit the required documents.

Step4: – Once the form is filled, buyers will need to pay Rs 1000 for filing the complaint and Rs 5000 in the case of filing complaints before adjudicating the officer. Payment can also be done in online mode. This information is just for instance of the state Karnataka. Fees will vary state-wise.

WHY CHOOSE RERA?

  • Before RERA Act carpet area (net usual floor area of an apartment, excluding the area covered by the external walls, areas under services shafts, balcony veranda area but also includes internal partition walls of the apartment) when builder calculates the price was not fixed. For some apartment, the agent would calculate the carpet area as 1400sqft and other will calculate the carpet area of 1300sqft. But after RERA Act it has been defined properly same formula will be applied by all builders for calculation.
  • In earlier days when the builder delays the possession of the property, then the interest paid by the builder delays to the customers was less, and when there is a default of buyer interest to be paid was high.

The RERA Act now clearly defined that the interest rate will be the same for builders as well as buyers.

  • Whenever there will be a mismatch in the contract which is made by the builder and the project then the buyer can withdraw from the project and he will get all money which is paid as an advance, in interest and along with compensation.
  • Builders cannot ask buyers to pay more than 10% of the total cost of the apartment, villa, etc as advance before coming into an agreement of sale.

The RERA is consumer-friendly, and which is the best part of this act. RERA is much adequate to know and will help to solve the controversies easily. “Questions which come up before the Authority shall be dealt with as expeditiously as possible and statutorily the Authority is required to dispose of the same within a period of sixty days from the date of receipt of the application,” says Sudeep Malik, partner of law firm Khaitan and Co.

WHEN TO FILE A COMPLAINT?

It is very easy to file any complaint as this is online mode buyers are required to visit the state’s website. The consumer can file a complaint anytime there is not a certain time provided to buyers, but it will give more relief so that it should be on time. Basically, RERA complaints can be filled by the buyers when there is any infringement of rules under the RERA act. Homebuyers have the right to file a complaint against an agent, builder, or dealer.

 

COMPLAINT FEES 

Complaint fees will vary from state to state. It can be filled online.

KARNATAKA: RERA charges Rs 1000 as filing of a complaint and if there is filing an appeal with the appellate tribunal, then there is a need to pay Rs 5000 as a complaint fee.

Maharashtra: consumers need to pay Rs 5000 as complaint fees. Payment can also be done through NEFT or RTGS.

Uttar Pradesh: Here consumers are required to fill forms M and Rs 1000 as complaint fees.

Haryana: Complaint fees are Rs 1000, and buyers also need to pay Rs 10 per annexure attachment.

Rajasthan: same as other states complaint fees is Rs 1000.

Gujrat: Gujrat RERA charges Rs 1000 as complaint fees.

Andhra Pradesh: for any complaint buyers are required to pay Rs 1000.

Goa: Complaint fees are Rs 5000.

Tamil Nadu: Buyers are required to pay Rs 1000 before the regulatory authority and appeal with the appellate tribunal required to pay Rs 5000 as fees.

 

RERA REPORT

Dhruv Tomar

Lexcilq

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