Property: Buying a house in India is not an easy task. From taking home loans to registry of the house, home buyers raise many problems. It is common for the builder to cancel the allotment, the project delay or not fulfilling the promises. To protect all these problems, the government has implemented Rera i.e. Real Estate Regulation and Development Act 2016 law. Now one place has become a place for homebuyers to settle their grievances. However, in some situations, RERA is also unable to help you, especially when you do not take care while buying a house. Know 6 such mistakes that are very important to avoid.
1. Sign on agreement with unilateral conditions
Many times the builders put such rules in the agreement for their benefit, which gives them the right to cancel the allotment or change the design of the project. Signing a no-objection certificate or affidavit without reading can prove to be against you later. RERA recognizes such documents and may cause legal loss to you.
2. Cash transaction at the time of booking
Some buyers pay in cash at the time of booking to save stamp duty. But when it comes to refund, such transactions are not considered legally valid. RERA does not consider cash transactions, which weakens the buyer’s position.
3. Do not pay on time
If you do not fill installments on time, the builder cannot be accused of delay. According to the court, the buyer who delays the payment is not entitled to compensation. So before buying, see whether the payment schedule is in your budget or not.
4. Accepting Revise Physical Date without thinking
Many times buyers accept a new date of possession oral or written. This can weaken the case against your builder, as it is believed that you have accepted the delay. Therefore, do not accept any change without legal advice.
5. Delay in filing complaint
There is no fixed time frame to file a complaint in RERA, but if you complained with great delay, your petition may be dismissed. So whenever the builder does not fulfill the promise, file a complaint immediately.
6. Relying on Pre-Mi or Rental Return Schemes
In many projects, builders promise pre-EMI or rental returns, but RERA does not legally recognize them. These are only private agreements and if the builder turns back on giving money, Rera will not help you. While buying a house, do not rely on the builder’s promises. Read every document carefully. Avoid cash transactions and seek legal advice. RERA is for your safety, but if you do not take vigilance yourself, it will not be able to help you either.
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