A GUIDE TO RERA

• Section 18 (Delay in Possession/Occupation Certificate)
• Section 12 (Misleading Advertisement by Promotor)
• Section 13 (More than 10% advance taken without Registration of Agreement)
• Section14 (amendment and Alteration of plans without 75% purchasers’ consent)

Under Section 18, which read as under:-

If there is delay in possession there are 2 options given by the Act:-

• Withdraw from project with complete refund of sale consideration paid plus interest.
• Remain in project and demand interest for declared possession till occupation certificate is received.

Where any person makes an advance or a deposit on the basis of the Information contained in the notice advertisement or prospectus or on the basis of any model apartment, plot or building, as the case may be, and sustains any loss or damage by reason of any in correct, false statement included therein, he shall be compensated by the promoter in the manner as provided under the Act.

Provided that if the person affected by such incorrect, false statement contained in the notice, advertisement or prospectus or the model apartment, plot or building as the case may be, intends to withdraw from the proposed project, he shall be returned his entire investment along with interest at such rate as may be prescribed and the compensation in the manner provided under this Act.

• A promoter shall not accept a sum more than 10% percent of the cost of the Apartment, plot, building as the case may be as an advance payment or an application fee, from a person without first entering into a written agreement for sale with such person and register the said agreement for sale, under any law for the time being in force.
• The agreement for sale refereed to in sub-section (1) shall be in such form as may be prescribed and shall specify the particulars of development of the project including the construction of building and apartments, along with specification and internal development works and external development works, the dates and the manner by which payments towards the cost of the apartment plot or building as the case may be, are to be made by the allottees and the date on which the possession of the apartment, plot or building is to be handed over, the rates of interest payable by the promoter to the allottee and he allottee to the promoter in case of default and such particulars as may be prescribed.

• After the sanctioned plans, layout plans and specifications and the nature of the fixtures, fittings amenities and common areas, of the apartment, plot or building, as the case may be, as approved by the competent authority are disclosed or furnished to the person who agree to take one or more of the said apartment, plot or building, the promoter shall not make 1-
• Any additions and alterations in the sanctioned plans, layout plans and specifications and the nature of fittings, fixtures and amenities described therein in respect of the apartment, plot or building as the case may be, which are agreed to be taken without the previous consent of that person.
  • Any other alterations or additions in the sanctioned plans, layout plans and specifications or the common areas within the project without the previous written consent of at least 2/3rd of allottees.
  • In case of any structural defect or any other defect in workmanship, quality or provision of services or any other obligations of the promoter as the Agreement for sale relating to such development is brought to the notice of the promoter, within 5 years by the allottee from the date of handling over possession, it shall be the duty of the promoter to rectify such defects without further charge, within 30 days, and in the event of promoters failure to rectify such defects within such time, the agreement allottees shall be entailed to receive appropriate compensation in the manner as provided in the Act.