The Real Estate Regulation & Development Act 2016 has received the assent from the President on 25 Mar 2016, and provisions of the Act came into force progressively afterward. In exercise of powers conferred upon Hon’ble Lt Governor of Delhi as the ‘Appropriate Government,’ wide notification No.221 dated 14 Nov 2018 was published under Section 20 of RERA Act 2016 for establishing a Real Estate Regulatory Authority for the National Capital Delhi (RERA Delhi) on a regular basis.
By an official Gazette notification dated 21 Nov 2016, the Ministry of Housing and Urban Affairs constituted an interim Real Estate Authority for the National Capital of Delhi and appointed the Vice-Chairman, Delhi Development Authority, as the Regulation Authority.
How to Register Real Estate Agents or Promoters or Buyers in RERA Delhi?
Objectives of RERA Delhi
The major objectives of the Authority are as follows:-
- To regulate and promoting the development of the real estate sector in NCT of Delhi to maintain transparency in real estate development and business. It also insists upon the mandatory disclosure of project details by the Builders or by promoters to the property buyers or purchasers.
- It aims to protect the interests of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal.
- To establish the Appellate Tribunal that hears appeals on the directions, decisions, or orders of the Real Estate Regulatory Authority and of the adjudicating officer on matters connected to RERA Delhi.
- Without registering the project with the Authority, no advertisements must be issued. No advance or deposits must be accepted without executing an agreement with the buyers. Registration of all real estate agents with the Authority is mandatory under the Act.
Read our article: Guide on RERA Registration for Real Estate Agents
When to file a complaint under RERA Delhi?
A buyer must file a complaint with the RERA Authority for any violation or any contravention with the provisions of the RERA Act by a builder, developer, promoter, or real estate agent. Conditions under which a buyer can file a RERA complaint include:
Delay in Possession
If a builder delays in delivery of possession of the property, then a buyer can file the complaint against a builder to get immediate delivery of possession or get a full refund along with interest.
A complaint must be filed against the developer, promoter, and even the endorsers if a buyer was misled by any false advertisements on the basis of which he/she decided to deposit a sum with the promoter.
A builder can ask for only up to 10% of the cost of the building, apartment, or plot as advance payment. If a builder asks for more than 10%, the buyer can file a complaint against the builder.
Improper Registration of Real Estate Project
It is imperative that all the projects must be registered under RERA. If the builder sells or is trying to sell an unregistered project, the buyer can file a complaint against the builder. Hence RERA registration is must.
No details about the Project
All details regarding the project, including project plan, layout, and government approvals need to be updated on the RERA website. One can file a complaint if a builder or developer doesn’t adhere to this provision.
In the case of the structural defects in the workmanship and quality of the services, the promoter will have to compensate for the amount paid by the allottee. If not compensated, the buyer can file a complaint.
A promoter cannot transfer majority rights to any third party. In case he/she is found transferring majority rights to a third party without the consent of a two-third majority of allottees, one can file a complaint.
Is it safe to buy a RERA Delhi approved project?
Yes, it is safe and recommended. When we invest in a project approved by RERA, the rights as a buyer are secured. RERA ensures legal compliance and possession timings. It ensures the delivery of possession of the property as promised. For other things, it is advisable to go through the plan well and make sure the builder are on the same page until handover of possession.
The nation’s capital has already established RERA Delhi to govern and regulate the real estate sector in the city. This was done as per the regulations of the Real Estate (Regulation and Development) Act, 2016. Prospective property buyers in Delhi can now visit the RERA Delhi portal and find all the information about the property they want to purchase. With all the information present on the website, the chances of delivering misinformation and deceiving the buyers are next to nil.
Read our article:Guide on Permissible expenses can be charged to RERA Account