What is the compensation from Bangalore Apartment builders , if the delay the project more than agreement date ?
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.
Posted on 24th Nov, 2018
Advocate Kishan Dutt
Answered on 1st Dec, 2018
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.
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Answered on 27th Nov, 2018
Yes, you are entitled to claim compensation in case of delayed flat possession under Section 18(1) of the Real Estate (Regulation and Development) Act, 2016, or commonly known as RERA.
Section 18 lays down that in case of a delay in possession where the dates were specified by the promoter at the time of the sale of the flat, but the possession was not delivered by the builder, the allottee or home buyer is entitled to recover interest from the promoter at the prescribed rate. For this, the home buyer can file a complaint under RERA against the builder with the RERA Authority of the State in which the property is situated.
A complaint against the builder begins with sending a legal notice to the builder with the help of a RERA advocate in India, to ask the builder to refund the amount paid to the builder, along with interest from the date on which the delay in possession began. The rate of interest is currently 12% and 18% when the builder delays possession even after the order of RERA.
READ: Timeline Of A Complaint Under RERA Against A Builder
However, an important thing to keep in mind is that RERA is not notified by all the states. In order to claim compensation from the builder for delay in delivery of possession when RERA is not notified by the state, you can file a consumer complaint against the builder.
A consumer complaint against the builder is filed on the grounds of deficiency in service and you can hire a property lawyer in India to file your consumer case in the appropriate consumer forum. There are 3 types of consumer forums and a complaint is filed depending upon the total value of the matter, in your case, the value of the property. The three consumer courts are:
District Consumer Dispute Redressal Forum: It accepts cases which have the total value of less than Rs. 20 lakhs.
State Consumer Dispute Redressal Commission: It accepts cases which have the total value of more than Rs. 20 lakhs, but less than Rs. 1 crore.
National Consumer Dispute Redressal Commission: It entertains cases which have the total value of more than Rs. 1 crore.
If your property value is more than Rs. 1 crore, property experts suggest that a complaint with the NCDRC is better than a RERA complaint.
Also, you can file a consumer complaint against the builder by combining your application with other home buyers who are seeking refund from the same builder and filing a class action against the builder.
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I'm being fined for now reason
I'm a tenant and I think I'm being ripped off my money.
The scenario is, the rented apartment had an AC, which is very old and did not cool properly. After raising multiple complaints and not getting any help from the owner or the broker I bought my own AC. Now since my room does not have place to keep the compressor, I figure I could keep it my flatmates balcony. Which worked, the only thing is the pipe had to go from the wall between our rooms. Since my lease says I can do any structural damage, I put the pipe around the wall outside.
After two to three months the society office calls me and since that's not allowed and I should either take it out or put a grill on the window. Again the grill would be a permanent change and I didn't want spend money on it, I asked the broker to talk to the owner to pay for it (who rudely said no chance they are doing that). After two weeks of being behind the broker, he says don't worry society office must've just warned they won't take any action and will forget about it so don't do anything. And so I didn't. After another mltnh7the issue went out of hand and they wanted it out. The broker got involved again (when I had informed him this would happen). He started telling me can you remove it or come up with any alternative. We did, and we decided to put braces, which I was going to pay for. The owner doesn't like this and wanted a grill only (which she doesn't want to pay for). Thinking I being taken advantage of I said no, not happening either give me an AC or put the grill. The broker in an attempt to diffuse tension said he would pay for it, then he calls me after a few days and says there's no point of him paying for the grill for the owner (which btw is exactly what he expected me to do earlier), He then says he will get the old AC repaired, which is ok with me. He told the society office it will out in a week. He didn't give me the repaired AC till two weeks later on a Wednesday. I then had decided to get the new AC out on Sunday on which day I get a message from the owner saying we have been fined 5000₹ for the pipe. The pipe was taken out that day.
I did my part of informing the broker and trying to get it sorted. I even was willing to pay for an alternative, I did not sign or see any document for the society where it says I can't put a pipe on the wall. It did not cause any damage to the property. Now tell me is there any legal right for them to fine me the 5000₹.
Oh and the owner is the chairman of the society board who btw does not like me and I think all of this is a ruse.
Can you please tell me if there is anything that I can do.
Posted on 11th Jul, 2019
Please let me know the pricing details for EC review and discussion for a property at Tamil Nadu. Lawyer should be from Tamil Nadu
Posted on 9th Jul, 2019
I got a call from Lok adalat for a civil case , under sections 341,323,504 as accused. My opponent (the informant) is not appearing the case , what can I do to dissolve the case. Can I neglect the notice
I got a call from Lok adalat for a civil case , under sections 341,323,504 as accused.
My opponent (the informant) is not appearing the case , what can I do to dissolve the case.
Can I neglect the notice