Rights and Responsibilities of Home Buyers under RERA

Home Buyers Rights under RERA & Their Responsibilities

Readers, Welcome Back! We have already discussed about the duties of the promoter under the RERA Act. The allottees or home buyers are vested with certain rights as well as responsibilities as stated under Section 19 of RERA Act. In this article, we’ll take overlook at the rights and responsibilities vested with the home buyers under the RERA Act. It is important to understand this in order to provide buyers with clarity on their rights & responsibilities and clear grounds in case they intend to lodge a complaint with RERA Authority. The allottees or home buyers are vested with certain rights as well as responsibilities as documented under Section 19 of RERA Act.

Who is a (Allottee) Home Buyer under the RERA?

As per section 2(d) of RERA Act, an allottee includes a person who acquires the said ‘apartment / plot’ through transfer or sale,but does not include a person to whom such plot, apartment is given on rent.

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Rights and Responsibilities of Home Buyers under RERA

You must be aware : Additional Construction By Builder

• Right to Obtain Information: The allottee or homebuyer is empowered to obtain information pertaining to sanctioned plans, layout plans along with the specifications, approved by the competent authority and such other information as provided in RERA Act or the rules and regulations made thereunder or the agreement for sale signed with the promoter.
• Construction Schedule: The homebuyer is entitled under the RERA Act to know the stage-wise time schedule of completion of the project, including the provisions for water, sanitation, electricity and other amenities and services as agreed to between the promoter and the allottee in accordance with the terms and conditions of the agreement for sale.
• Possession of Real Estate: The allottee is permitted to claim the possession of apartment, plot or building. The building association of allottees is entitled to claim the possession of the common areas.
•  Right to Refund: Under the RERA Act, if the building or land promoter is unable to complete the handover of the apartment, plot or building, an allottee can claim a refund of any amount paid along with the interest in the prescribed rate, as well as compensation from the promoter.
• Custody of Documents: Under RERA Act, an allottee is entitled to have the necessary documents and plans, including that of common areas, after the promoter surrenders the physical possession of the apartment, plot or building.

Read about the Provisions of Rera here.

 Home Buyers Rights under  RERA Act:

Along with rights come responsibilities. Under RERA Act, a homebuyer also vested with the following duties to ensure proper closure of the purchase transaction.

• Payments and Interest: An allottee who is a participant of an agreement for sale to take an apartment, plot or building is liable to make necessary payments, in accordance with the manner and time specified in the agreement.  The payment is inclusive of municipal taxes, water and electricity charges, maintenance charges, ground rent and other charges, etc. In case of any delay in making payment, the allottee will be liable for payment of interest at the prescribed rate.
• Participation in the formation of an association of allottee: An allottee of the apartment, plot or building must participate in the formation of an association or co-operative society of the allottees, or a federation of the same.

Parking Rules Under RERA

• Possession of Property:An allottee is required to acquire physical possession of the apartment, plot or building. The allottee is required to do so within a period of two months after the receipt of occupancy certificate, which is issued for the apartment, plot or building.
• Registration of the Conveyance Deed:An allottee must take part in the registration of the conveyance deed of the apartment, plot or building.

RERA: A Legal Remedy for societies and Flat Buyers to tackle real estate challenges

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