To maintain a clean and clear declaration in the buying process of properties, the Indian Government started an act in May 2016. The full form of RERA is the Real Estate Regulatory Authority. To follow the rules of RERA , the developers are bound to inform all the information's about the construction process they look after to provide the keys according to the mentioned date. To buy Property in Kolkata the buyers know all the details and plans about the construction proceedings to buy any properties.
RERA benefits the buyers to prevent the mis-selling of properties and Flats in Kolkata . In this way, builders and developers cannot delay in project progress mentioned in the agreement done between builder and buyer. The act maintains the transparency in the world of real estate. Builders who deals with “ Property in Kolkata” strictly follows the rules of HIRA and RERA in West Bengal.
But, West Bengal has implied its own real estate law mostly in the buying process of flats and residencies. Before buying any “Property in Kolkata” they should aware of amendments, rules, and clauses RERA and HIRA and should gain knowledge about these terms to stop being become the victims of forced consent made by developers. The buyers should recheck the agreement made between the buyer and builders with the lawyer. One buyer should take recommendations of proper consultancies before making decisions in buying property.
Possession date and grace period should be mentioned in the agreement and should be checked thoroughly. The builder should deposit 70% of the money in the bank given by the buyer through cheque. Every transaction should be followed as per the rules of RERA. The developer should inform about the process of projects to the buyer. This will prevent the misuse of capital and misinterpretation between them.
To buy property, there should be a clear reality check of amendments and agreements to decrease the forced consent by the builders. No further changes will be done after making the agreements made for buying any property. All the changes should be discussed with the buyer with proper consent of him to maintain the clarity of project making. RERA to an extent is eligible to stop all these unconditional problems arises in full procedure of procurement of projects.
Upcoming projects are now under the control of the RERA act, and these have helped the buyers to prevent the problems of buying projects. The builders and developers construct and implement the projects according to the plan discussed with the buyers and mentioned in the agreement. No verbal conditions are made by the developers and nothing can be signed by the buyers forcefully after the amendments mentioned or at the time of property handover.
After making agreements, no unconditional offers and changes should be done. This can make a buyer to file a complaint against the developer under the registered act of RERA section 31and RERA can move for further investigation under the act of RERA 35. This can lead a developer to pay penalties to buyers.
So in buying flats RERA can overturn the forced consent agreements procured by the builders for changing the project planning. In the procedure of buying “ Property in Kolkata,” RERA and HIRA both play a huge role to stop and prevent uncertain consent made by the builders. Before deciding on making properties and investments people should consult with their respective lawyers or property holder and create transparent agreement amendments.
By LNN (Liyaans News Network)