1 ANSWERS

Posted on Nov. 24, 2018, 1:55 p.m.

Any RERA compensation , ijust heard but not found any details regarding those. I am about to sign the sale agreements, where it mentioned if any delay compensation as per RERA rules.

Property Law  

Dear Sir, Yes, you will get 10 percent. The RERA RULES are as follows and read its judgments on its following site. RERA: Homebuyers to get 10% penalty for delay in projects, but is that enough? There are a number of clauses in the Act that aims toward protecting the buyer's interest and envisage a transparent system in the real estate sector. In a bid to protect the interest of homebuyers as well as weed out non-serious and unscrupulous players from the market, the Real Estate (Regulation and Development) Act, 2016 (RERA) has proposed heavy penalties on builders who will henceforth either delay their projects or won't comply with RERA norms. For instance, RERA recommends imprisonment for a term which may extend up to three years, or fine which may extend up to 10% of the estimated cost of the real estate project, or both, in case of non-compliance with the Act. Moreover, in case of any structural defects arising within five years of handing over the possession of project to buyers, developers will be liable to rectify such defects without further charge. If a project is delayed, which has become the sector norm today, developers are required to pay 10% interest to the buyers on the invested amount as against the Rs 5 to Rs 10 per sq feet penalty contracted in the sales agreement. It may be noted that a majority of developers are currently charging 12% to 18% going up to 36%. In some cases interest from buyers for any delay in payment, while they themselves usually pay in the range of Rs 5 to Rs 10 per sq ft even in case of a luxurious project, which is not a fair deal to buyers. https://rera.karnataka.gov.in/


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Posted on Feb. 3, 2019, 9:52 a.m.

I am planning to buy a land (plot) in Bangalore which is RERA registered and all the banks like SBI HDFC are giving loans. Does it qualify enough to conclude that the project is authentic or could there be any legal issues later . Please let me know

Property Law  

  • No Answers Yet
0 ANSWERS

Posted on Jan. 31, 2019, 11:27 p.m.

My father's doing 2 marriage ,I'm his 1st wife child, we are two sister or one brother from 1st wife. My real mother separate leaving last 23 years from my father. Or my father leaving with his 2nd wife or one daughter, my brother was expired on 2015 or my father -mothers not getting officially divorce. Now our uncle aunty or step mom tried to cutoff our two sisters name from fathers property,please suggest me what can we do for property Rights

Property Law  

  • No Answers Yet
0 ANSWERS

Posted on Jan. 24, 2019, 3:18 p.m.

I have one delay application by guj gov against me in 2014 and gov officer mamlatdaf had done wrong affidavate and taken judgment in 2014 base on wrong judgment and now in 2019 we have noticed that this is wrong affidavate so how to cancel that wrong judgment base on wrong affidavate...

Property Law  

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OTHER RELATED QUESTIONS:
0 ANSWERS

Posted on Feb. 3, 2019, 9:52 a.m.

I am planning to buy a land (plot) in Bangalore which is RERA registered and all the banks like SBI HDFC are giving loans. Does it qualify enough to conclude that the project is authentic or could there be any legal issues later . Please let me know

Property Law  

  • No Answers Yet
0 ANSWERS

Posted on Jan. 31, 2019, 11:27 p.m.

My father's doing 2 marriage ,I'm his 1st wife child, we are two sister or one brother from 1st wife. My real mother separate leaving last 23 years from my father. Or my father leaving with his 2nd wife or one daughter, my brother was expired on 2015 or my father -mothers not getting officially divorce. Now our uncle aunty or step mom tried to cutoff our two sisters name from fathers property,please suggest me what can we do for property Rights

Property Law  

  • No Answers Yet
0 ANSWERS

Posted on Jan. 24, 2019, 3:18 p.m.

I have one delay application by guj gov against me in 2014 and gov officer mamlatdaf had done wrong affidavate and taken judgment in 2014 base on wrong judgment and now in 2019 we have noticed that this is wrong affidavate so how to cancel that wrong judgment base on wrong affidavate...

Property Law  

  • No Answers Yet

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