As a first step, the buyer must carry out a substantive check of the client and physically check all the documents, in particular the details of the date of possession, before buying a property. The date of possession should ideally be between two and three years from the start of the project, regardless of its size,» he concludes. 2. Regardless of the terms of the sales contract, the buyer may not have the right to withdraw from the contract. Brief facts This action was filed seeking instructions from MAHARERA to the respondent to perform a registered sales contract in the context of a registered project, since the complainant has already paid nearly 78% of the counter-performance of the sale. In accordance with RERA`s instructions, the deed of sale was registered, but the completion date mentioned in the deed of sale was different from the date provided to RERA at the time of registration. The conditions of the contract concluded between the contracting authority and the Allotte determine the reimbursement of the amount of the reservation. If the contract contains an expert clause according to which the contracting authority has the right to lose a certain percentage of the amount of the reservation, there is no recourse. However, if the contract does not contain such a clause, the Allotte may give a legal indication to the contracting authority. The allotte may also address a consumer forum if the cancellation is due to the delay caused by the contracting authority in the completion of the project. The National Commission decided that if the application for reimbursement was submitted by allotte on the grounds that there had been a significant delay in the development or handing over of ownership of the land, the allotte could apply to the consumer with 18% interest.10.
Delay in the delivery of the property: I want to buy an apartment that has a rera completion date in September 2023. The contracting authority commits the date of possession in June 2020. Will the contracting authority be punished if he misses the date mentioned in the contracting authority`s contract of sale, i.e. three before RERA? Read More The home buyer should look for projects registered on the rera website and the draft contract. This agreement should be verified by a lawyer to verify that it complies with the RERA. The buyer should also check the date of detention mentioned in the contract and, if applicable, the «additional period». Ideally, six months should be the maximum additional period from the date of possession indicated in the agreement. In accordance with the Maharashtra Ownership of Flats Act 1963 (MOFA), the exact date of ownership should be stated in the purchase agreement….