Posted Under Real Estate Rules & Regulations, Real Estate On 25 September, 2024
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has received complaints from homebuyers regarding developers offering conditional possession of units through declarations or agreements. These documents, which differ from the original sale agreements, are reportedly being forced upon buyers and contain clauses that could limit their legal rights in the future. This practice is considered illegal under the existing real estate regulations. The authority is set to address the complaints filed against these developers to safeguard the rights and interests of homebuyers. If the developers are found guilty, appropriate action will be taken against them.
The UP-RERA chairman stated that complaints have been received regarding developers offering conditional possession to homebuyers. Developers should only sell units based on accurate information, approved maps, and layouts, ensuring possession is given without altering the terms of the sale agreement. This will help prevent buyers from feeling misled or dissatisfied.
The authority has received complaints from homebuyers that some developers in the state are offering possession without providing the amenities and facilities promised in the sale agreement or Builder-Buyer Agreement (BBA).
Additionally, developers are demanding payments that exceed the unit cost and go beyond the terms of the agreement before offering possession. Homebuyers are being pressured to accept possession of incomplete units, often without the necessary registration formalities and without obtaining the Occupancy Certificate (OC) or Completion Certificate (CC).
The project is being marketed based on facilities outlined in the plans, despite lacking approval from the relevant authorities. Changes are being made to the approved plans and layouts without the consent of homebuyers, and possession is not being provided according to the timeline specified in the sale agreement.
After selling units based on misleading information and failing to develop the promised amenities, these developers are pressuring homebuyers to sign agreements or declarations for possession. These documents often include clauses that restrict the homebuyers from exercising their legal rights in the future, including those outlined in the RERA Act.
By LNN (Liyaans News Network)