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RERA Authority RERA Authority

Bronze medal Reporter O.P.Yadav Posted 17 Nov 2020
RERA Authority

           Real Estate Regulatory Authority(RERA)

  • Real Estate Regulatory Authority constituted by every State govt.under The Real Estate( Regulation and development) Act, 2016 for regulation and promotion of  real estate- and to protect the interest of consumer/ allottee in the real estate sector.
  • Every state has formed RERA for registration and regulation/ supervision of real estate project within their jurisdiction.
  • Authority has the power to regulate and supervise the project registered with it.
  • Authority has the power and jurisdiction to hear the grievances relating to delayed possession, non execution of project or any other grievances of allottees/ promoters.

  • Return of amount and compensation- If the promoter fails to deliver the apartment/ plot/ building within the time prescribed in the agreement, he has to compensate the allottee for the delay  on his part.
  • If the allottee wishes to withdraw from the project, he will be refunded full amount  alongwith interest  at the prescribed rate of interest.
  • If allottee continues with the project he will be paid interest on the amount deposited with the promoter for the delayed period till the date of possession.
  • RERA hold its regular hearing for disposal of cases filed before it regarding delayed possession charges and or compensation on account of delay on the part of promoters/ developers.

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