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In recent years, we have seen how innocent homebuyers have been suffering from the exploitive nature of the builders. Issues related to delay in delivery of possession of a property and the builders going bankrupt are common these days.
Earlier going courts and waiting for years was the only option left with people to deal with their problems, but now after bringing into force the Real Estate Regulatory Authority, the government has made it easy for people to resolve their issues in comparatively less time and by spending less money also.
There is a slight difference between the two authorities which makes them unique in their own way and makes it easier for people to choose, in terms which authority they want to approach.
Here is a quick overview of the RERA as well as NCDRC which states their working and how they are beneficial for people.
Starting from NCDRC, Consumer forums are established so that any aggrieved consumer including the matters of goods and services can seek relief by filing a complaint before the consumer forum. Whereas, RERA is that authorised body that only deals with the matters relating to the real estate sector.
There is no as such scope of investigation in the Consumer forums, whereas, RERA provides for the investigation. Whereas, under RERA investigations can be conducted on the complaint of the buyer.
The other and also the most important difference between the two bodies is that, while filing a complaint before real estate authorities, you can easily file a complaint before the authorities in which your property is situated. Also, there are no as such specified pecuniary jurisdiction of the RERA. Whereas, in the Consumer Forums, you have to file a complaint according to the pecuniary jurisdiction.
The biggest advantage of filing a case with NCDRC is that the appeals can be filed directly before the Supreme Court, whereas the appeals to the RERA verdict lies with the RERA Appellate Authority, the High Court and at last with the Supreme Court. Thus, approaching the Supreme Court through NCDRC is easy as compared to that of RERA.
NCDRC has been thrashing builders by imposing strict penalties on them. However, there are certain situations when a person cannot approach the RERA, these are:
Through the above-mentioned points, it is clear that how NCDRC and RERA have been helping people in getting recovery of their grievances. We all are familiar with the famous judgment of the NCDRC, where “Unitech South Park” was directed to refund the entire amount of consideration along with the compensation in the form of interest @10% per annum.
According to the agreement between the buyer and the builder, the residential apartments in Sector 70, Gurgaon were supposed to be delivered within a period of 36 months from the date of its execution. The builder, even after taking 95% of the consideration amount failed to deliver the possession of the property on time. It was found that the Construction of the project was incomplete at the time when they were supposed to be delivered to the homebuyers.
One more related case, where the Haryana Bench of RERA, penalized a private builder with a fine of Rs. 30 lakhs for violating the rules of RERA. It was further found that without even registering the project with the regulatory authority, the builder published advertisements inviting the application for sale. As per section 3(1) of the Real estate Act, Registration of the project as well as builder is necessary and violation to the rule lead to imprisonment as well as fine up to a specified limit.
Hence, from the referred cases the impact of these authorities on the builders is clearly visible. The common thing that was there in both of the judgments was the role of MyAdvo.
In both of the cases, the buyers approached MyAdvo, one of the leading legal service aggregator firms in India. MyAdvo helped them in connecting with the best lawyers of their choice and requirements. They ensured that each of the grievances received a quick redressal along with a satisfactory compensation amount.
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