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Many times, real estate developers fail to handover homes to buyers as per the agreement for sale, resulting in increased antacid consumption for the homebuyer and often, in lengthy legal suits too.
In a similar case, homebuyers filed a complaint before UP RERA, seeking refund of their investment along with interest.
RERA Who?
In their defence, the promoters of the project said that RERA was not applicable since the sale deed agreement was executed before the Act came into existence.
Consequently, they filed a writ petition before the Supreme Court after being dissatisfied by the decision of the UP RERA and the Allahabad High Court.
Recognise This
The apex court in its judgement held that, the legislative intent of RERA was not only to include projects that were yet to start after the act came into force but also ongoing projects to protect the rights of homebuyers, promoters and real estate agents.
Word From The Bar
🎙 The plain interpretation of the act does not fulfil the intent and object of the Act. The goal is to benefit the consumer and bring transparency and uniformity in the real estate sector – as observed by the three judge bench.
Next time you see the RERA not applicable to this project BS, point them to this ruling.