With RERA coming into the scenario since 1st May, 2017, the homebuyers have not only heaved a gush of relief, but have also seemed to get enough prospects to convert their long-cherished dreams into reality. Before the implementation of RERA, when the dream of the middle-class homebuyers to own a home had almost become a lurid thing to experience, the intervention of RERA act has actually come out as a saviour to all of them who were practically worried about the malpractices adopted by many developers or agents in the industry. The previous custom of having the home buyers at the mercy of the developers has actually come to a sheer halt and especially, with a number of aggrieved consumers lodging complaints against the dubious builders, an utter transparency is expected in the scenario.
Delay in possession, deviations in the construction parameters and mismatches in space orientation in regards to floor area and carpet area are the main reasons why the home buyers tend to be twitchy against the builders.
With the RERA act on board, any home buyer having any sort of complaint can file objections under the authority. Among a number of other things, RERA makes sure that every project having a size of above 500 square meters registers itself with the authority. Now, in case, the buyer is not satisfied with any builder or any decision made by him, he/she is free to make complaint with RERA anytime. The fees for filing a whinge with MahaRERA against any developer is Rs. 5000/-. Any digital transaction mode can be used for the payment method. A number of forms have been provided by the authority among which FORM A is decided to be the tack in which one can sleeve a complaint against the old lag builder.
Also, in case, the home buyer is not content with the verdict made by RERA officials, he/she is also free to plead for alternative decisions from RERA Appellate Tribunal. An appeal can be registered within a period of 60 days from the date the decision has been aired. In case of serious offence, the aggrieved buyer can also move to high court and file a complaint within 60 days.
All the grievances will be perfectly scrutinized by a team of experienced officials and after proper verification, the apposite action will taken by the authority. In some cases, a fine up to 10-20% of the project cost can be demanded from the builder. Nevertheless, after the execution of Real Estate Regulation and Development Act, Maharashtra has become the first state to egg on more lucidity, precision and liability for RERA guidelines.
To conclude, though it would be too reticent to call RERA a success so early, but the certain laws and decrees stated by the authority have actually given the home buyers enough reasons to applaud for.