Search Results for: agreement for sale

Penalty of Rs 1.5 Lakh slabbed on builder for failure to register sale agreement

MAHARERA keeping up with the spirit of the Act recently has passed an order asking the builder to pay a sum of Rs.1.5 Lakh as penalty to the RERA authority for not registering the sale agreement.

Registration of sale agreements are mandatory if homebuyers want interest

The UPRERA asked the builders to get their sale agreements registered, which will be necessary for the home buyers to seek interest in case of a delay in granting possession by a developer.

Landowner in a development agreement cannot be considered a Financial Creditor

The Corporate Debtor would carry on construction and out of total saleable construction 32% will be of landowner and remaining 68% will be of the Corporate Debtor.

Arbitrary Builder-Buyer Agreements

We often talk about the rapid growth of the real estate sector in India but forget to talk about the legal documents that play a very crucial role in the aforesaid sector. And builder buyer agreement is one of the most important documents for homebuyers.

HARERA Fixes 1% Brokerage on Sale/Purchase in Real Estate Sector

A decision by the authority is a fundamental step towards constraining the real estate agents from exploiting extra money from buyers and sellers. The brokerage being fixed will turn down the chances of overcharging ultimately protecting the interest of homebuyers.

What if the agreement does not mention the possession date?

Not mentioning the date of giving possession to the buyer is a clear matter of fraud and misrepresentation and as per the Maharashtra Ownership of Flats Act of 1963.

RERA: No possession date in builder buyer agreement

The buyer enters into an agreement where the builder deliberately mentions vague clauses in the Builder Buyer Agreement in order to evade liability.

RERA would be applicable on lease agreements: MahaRERA

RERA act was implemented with the purpose of redressing the grievance of the aggrieved home-buyers and it seems like it is serving the purpose very well.

Will RERA execute the builder-buyer agreement as the Builder fails to do so?

After the implementation of Real Estate (Regulation and Development) Act, 2016, any person who is aggrieved because of the delay in execution of buyer builder agreement after payment of more than 10%  of the cost of apartment/plot/building can a file a complaint before RERA Authority of the State for execution of the agreement. If builder denies to execute … Continue reading “Will RERA execute the builder-buyer agreement as the Builder fails to do so?”

Jurisdiction of RERA Authority in case of termination of Agreement before Implementation of RERA Act?

Detailed article on whether in cases of termination of agreement before the implementation of RERA Authority, the jurisdiction of the RERA authority is ousted or not?

Alteration of Builder Buyer agreement after implementation of RERA Act

RERA does not speaks about the alteration of the terms and condition of the agreement to sale but if there is any contradiction, it is understood that law will prevail.