RERA is here to help but there are many things one should also look beyond while buying a flat. Here are points that you need to note and follow.
By Advocate Prakkash Rohira
Buying a home is a dream that most live for. But there are many examples of people being stuck in spite of making a large amount of payment. RERA has helped many in getting justice from the developers, as it does provide vital facts about a project.
However, there are many things a home buyer should keep in mind before he or she sets out to buy a house.
Apart from having set a model for speedy adjudication over disputes, currently a buyer must look at MahaRERA mainly to:
- Gaining vital Information about the Project.
- Adjudicating upon the violations/breach/misrepresentation of the promoter that are covered under the Act.
Developers declare but fail to update their project information deeming most of it outdated, have only part approvals, or incomplete information. Many times shortcoming of different kinds have been found amongst information uploaded by the developer on RERA websites. This mischief has not yet been controlled, and still find a way to get away with them.
Also Read: Action against 20 developers in a day
However, relying on the legal maxim “Caveat Emptor” here are a few points a purchaser must scrutinize, preferably through a professional who understands the same the following, before finalizing a flat in any RERA registered projects:
- Always preserve the sale brochure.
- Ensure there is a municipal sanction for the said property for the full building.
- Do ensure that the developer has a CC atleast till the floor you are to purchase.
- Do read the Allotment letter thoroughly and understand its implications before signing.
- Please peruse the sale agreement to understand terms of sale
- Ensure you have a receipt with revenue stamp for all payments made.
- Take Receipts for all payments made. Ensure the payments are being collected in the separate RERA Account.
- Keep record of all demand letters and progress/completion letters.
- Peruse your society/common area maintenance clause in the agreement, and nearing completion ensure the Society/Association is formed and you are made a member of the same.
- Keep making your payments on time to avoid levy of interest and enable the developer to complete the project in a timely manner.
ALWAYS REMEMBER:
- Do not get excited or respond to any urgency such as “the flat will be no more available”, “prices going up tomorrow”. Understand that anything without proper communication and confirmation is “money at risk” do take such risk only as per your risk appetite.
- Gone are the days for statements such as “we will deliver but cannot put on paper” as they hold no value. Keep all communication vide letters or email, do not rely upon oral commitments/representations.
Disclaimer: Views expressed in this article are that of the expert, they do not reflect the views and opinions of Square Feat India.
Also Read: MahaRERA: steps to file a complaint
