Real Estate sector has always baffled homebuyers. Reason being there were no rules and regulations as such for grievances. By virtue of this, grievances in the realty sector swelled up.
Promises and agreements were made in general but still a big zero when it comes to delivering. The homebuyers were baffled as they didn’t know where to pound the door to file complaint against developer.
The government has launched a complete redressal system. Authorities have been constituted for the Real Estate Regulation and Development Act (RERA) complaints, wherein consumers can file a complaint as per the grievance.
Let us now focus on some of the types of grievances that fly in the face of homebuyers:
- Delay in possession: Inept or delay in delivery of property building futile financial burden on the homebuyer.
- Unnecessary charges: Builders charging exorbitant rates from consumer such as late payment interest.
- Scrap of project: Builder scraps the project for some reason irrespective of the bookings done.
- No refund of amount: Fake promises are made by the builders to extract money from the naïve consumer but fail in delivery. Therefore, no refund of the amount is made.
- Non-acceptance of surrender: Even though the builder has surrender but he does not accept, taking consumers on the ride.
- Sale of property to multiple buyers: Selling the property to multiple buyers where the owner is unaware of the fact which makes the property defective
- Profile funding: Builder uses decent homebuyers to fund the property from the bank.
- Non-payment of interest and penalty charges: Builder intentionally does not pay the interest or the penalty charges when the possession is delayed.
Legal remedy for complaint:
- Prior to the enforcement of RERA e. 01/05/2017 consumers could file their complaints either in Civil Court or Consumer Court. They were grieved because the redressal to their grievances was not met and the cases were left in the air.
- Post to enforcement of RERA a complete redressal system has been set up as an aid for consumers. The RERA Authority specified under RERA has to give its direction within the stipulated time limit of 60 days.
Centrik is a leading Consulting firm with its expertise in RERA. Though we tried to provide a brief on the above topic, in case there are any queries you can write to us at email@example.com
Note – Please note that the above article is for education purpose only. This is based on our interpretation of laws which may differ person to person. Readers are expected to verify the facts and laws