When the builder delays the possession, it results in harassment to the buyer, and the excitement of owning a new house is also lost. Besides, there are financial losses also.
Nowadays, the Government is coming up with pro buyer rules and regulations for tackling the problem of delay in possession. Even courts are taking stringent action against the builders who default.
Read: What actions you can take against builder for delayed possession of the property
Remedies available to the buyer are as follows:
Filling a complaint – A complaint can be filed by the buyer before
- civil court – A civil court may order for a refund of the amount already paid, compensation or completion of the project.
- consumer forum – awards compensation
- criminal complaint – a criminal case can be filed in a court for cheating or breach of trust
Authority set up under RERA – Real Estate (Development and Regulation Act, 2016). It is a new law under which the Government sets up a body known as Real Estate Regulatory Authority. A complaint can be filed before it. Buyer may hire a lawyer or himself fight his case before this Authority. A complaint is filed if the builder is not compensating the buyer. RERA is applicable only for larger projects where the area of land to be developed is more than 500 square meters.
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