Provision to rectify faulty construction is here to rescue buyer’s interest
Aug 28, 2017 Home Trading Steps
The buyers have been rejoicing since the Real Estate Regulation and Development Act (RERA), 2016 has come into full force across the nation. The ill practices of the developers that had exploited the interest of the buyer for years will finally come to an end. In the name of taxes, the promoters will not be able to baffle the buyers. A single tax will charge across the country with Goods and Service Tax (GST).
Let us discuss what can the things that can bother a buyer if he is not too careful about his investment.
According to the RERA law, the developer is responsible to fix any of the structural faults that might occur in five years of possession of the property. Initially, it was two years but the new law makes sure the buyers get more benefit from the same. But do note this that the law is different in every state. Even though your state provides the law for structural repair it may not be for five years.
If the builder has used low quality materials for the construction, then it might take the building more than five years to show the true colours and the damage.
For example, if you have bought the property looking at the construction and the amenities that the developer is providing then it might take you some time to find out the condition of every fitting and material used in the construction. You might not find out the immediately whether the taps are proper or not if the plumbing is proper or not or whether the doors and windows of the property serve the right purpose or not.
Under no circumstance, the buyer will be able to find out what materials have been used for construction unless he has made a serious promise and is sticking by it. These give builders a window to compromise with the material and use the low quality ones.
Also, the word ‘structural flaw’ may not cover the entire flaw in housing construction. In this case, the above mentioned provision may not be able to guard your interest and help you get the justice.
To avoid this make sure you are aware of the law that is applicable to your state and what can you do in case the property has a structural flaw.
RERA hopes to diminish every ill practice of the builder and serve the buyer in the right way. But everything has a limitation, be aware of the RERA law that is in your state.
Let us discuss what can the things that can bother a buyer if he is not too careful about his investment.
According to the RERA law, the developer is responsible to fix any of the structural faults that might occur in five years of possession of the property. Initially, it was two years but the new law makes sure the buyers get more benefit from the same. But do note this that the law is different in every state. Even though your state provides the law for structural repair it may not be for five years.
If the builder has used low quality materials for the construction, then it might take the building more than five years to show the true colours and the damage.
For example, if you have bought the property looking at the construction and the amenities that the developer is providing then it might take you some time to find out the condition of every fitting and material used in the construction. You might not find out the immediately whether the taps are proper or not if the plumbing is proper or not or whether the doors and windows of the property serve the right purpose or not.
Under no circumstance, the buyer will be able to find out what materials have been used for construction unless he has made a serious promise and is sticking by it. These give builders a window to compromise with the material and use the low quality ones.
Also, the word ‘structural flaw’ may not cover the entire flaw in housing construction. In this case, the above mentioned provision may not be able to guard your interest and help you get the justice.
To avoid this make sure you are aware of the law that is applicable to your state and what can you do in case the property has a structural flaw.
RERA hopes to diminish every ill practice of the builder and serve the buyer in the right way. But everything has a limitation, be aware of the RERA law that is in your state.
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