Interest for delayed payment for projects under rera


I have been informed by my builder that they have registered our project in RERA, in UP.

They have sent me a demand for the next installment, since they have added the slab for the next floor, after stalled construction for many months.

What is the maximum interest they can charge me in case if I cannot send in a payment right now, since the project is under RERA now. The interest in buyers agreement is listed as 18%, but i understand that this will not be true for projects under RERA.

BTW, they are also 4 years late in delivering my flat and the construction is still far from complete. What interest will the builder have to pay to me.

 
Reply   
 

Ask RERA authrority Uttar Pradesh for quarterly complicance to verify the facts. Secondly even if you pay interst right now, you are still eligible to claim later. Thirdly you need to file a complaint with www.up-rera.in in respect to delay caused, claiming interst at the rate which the propmoter has specified in agreement to sell/application to be chargeable as penal interest in case of delay. on the part of allottee. 

 
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How to file Builder Complaint under RERA? About RERA RERA is Real Estate Regulation Act-2016 the act was passed with an objective to regulate real estate sector in India. Real estate sector contributes to 9% GDP and is 2nd highest employment generator after Agriculture. There was a need to regulate the sector as there was huge number of builders who have defaulted in their commitment of giving possession of flat to allotees. The real estate scam in India is apparent and need to regulate builders was important an then there are one sided agreements and cheating done by builders About 67% of projects in Delhi/NCR are delayed by more than 2 Years. The act has a provision of mandatory registration of Builders and real estate agents and establishment of real estate regulatory authority to look into the matters related to complaint against builders. A Builder complaint can be lodged in RERA under Section 31 of RERA Act. Builder Complaint Before Real Estate Regulatory Authority Every State in India has RERA and under RERA builder projects are registered there are stringent provisions under which the builder has to disclose details of the project and file sanction plans,completion dates etc before he could even do marketing of the project. There are strict penalty clauses in the act with regards to non-registration of the projects. Under Section 31 an allotee can approach RERA and can file builder complaint under RERA act. The format of complaint differ from state to state. Here we will evaluating RERA forums of Delhi and NCR. RERA in Delhi Delhi Rera has interim Regulatory Authority situated at Vikas Minar ITO Complete Address-: 14th Floor Vikas Minar, ITO, New Delhi  The webpage of Delhi RERA is http://dda.org.in/rera/ They have online complaint link http://dda.org.in/rera/EncroachDataUpload.aspx However it is advisible to visit and file complaint under section 31 of RERA act against builders or rela estate agents in Delhi. RERA in Haryana In Haryana two RERA authorities are there one in Panchkula and Haryana RERA Office Address Real Estate Regulatory Authority Haryana Executive Officer, RERA, HUDA Complex (Central Block), Sec-6, Panchkula. Phone: +91 172-2583132 E-Mail: officer.rera.hry@gmail.com Click here to download notification   Download [484.68 KB] RERA in Gurgaon The Gurgaon RERA is situated at make shift office PWD Guest house Haryana Real Estate Regulatory Authority (H-Rera) will be finally set up in Gurugram from February 1, officials said. The temporary office will start functioning out of the public works department (PWD) guest house on Old Railway Road near the Gurugram police commissionerate. However, the permanent office will come up in Sector 44 six months later. RERA in Uttar Pradesh UP Rera has a proper website and a link to lodge complaint Website http://www.up-rera.in/index Address 6 J.C.BOSE MARG, LALBAGH,LUCKNOW, Uttar Pradesh E-mail: contactuprera@up-rera.in Interest and Compensation under RERA The authority has wide powers for redressal of complaint under RERA hera are some of recent News of decisions by RERA H-Rera fines Gurugram builder 30 lakh for advertising project without registration “The authority is of the view that Krisumi Corporation has violated the provisions by publishing the advertisement in the newspapers as well as on the website without getting prior registration of the project from the Haryana Real Estate Regulatory Authority, Gurugram in whose jurisdiction the said project falls and thereby committed the violation of Section 3 (1) of the Act and rendered themselves for action under Section 59 (1) of the ibid Act,” H-Rera chairman Khandelwal observed in the detailed order. Directing the company to pay Rs 30 lakh as penalty for the violations, the authority further observed that such violation would not be allowed. Source: https://timesofindia.indiatimes.com/city/chandigarh/h-rera-fines-gurugram-builder-30-lakh-for-advertising-project-without-registration/articleshow/63497315.cms MahaRERA imposes Rs 50 lakh fine on Piramal Realty Moneycontrol.com–06-Apr-2018 “Section 11 (2) of RERA states that the advertisement or prospectus issued or published by the promoter shall mention prominently the website address of the Authority, wherein all details of the registered project have been entered and include the registration number obtained from the Authority and such other matters … RERA warns builders of action for late registration Daily News & Analysis–16-Jul-2017 We can even take suo motu action against builders who fail to register their projects after the deadline of July 31, on mere intimation about the same,” said Vasant Prabhu, secretary, Maha RERA. “However, we are expecting all the builders to register their projects within the deadline or else we will fine the … RERA to Mumbai builder: Compensate buyers for delay in giving … Hindustan Times–31-Mar-2018 The Maharashtra Real Estate Regulatory Authority (MahaRERA) in its recent order has rapped a builder who violated construction rules and tried to put the blame of delay in possession of a flat on government agencies. The order also provided relief to homebuyers who were given possession of their … MahaRera directs builder to refund cash component over delay in … Times of India–20-Mar-2018 MUMBAI: Maharashtra Real Estate and Regulatory Authority (RERA) recently directed a builder to repay with interest Rs 25 lakh including a cash amount of … The Rera Member said that grounds of delay given by the builder, could be treated as mitigating factors to refuse buyer’s claim for compensation.   Advocate Nitish Banka 9891549997

Read more at: http://www.lawyersclubindia.com/forum/Rera-and-transfer-of-flat-in-society-under-redevelopment-151935.asp

 
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Posted by: Nitish Banka  Categories: Civil Law consumer 
 

 

How to file Builder Complaint under RERA?

About RERA

RERA is Real Estate Regulation Act-2016 the act was passed with an objective to regulate real estate sector in India. Real estate sector contributes to 9% GDP and is 2nd highest employment generator after Agriculture. There was a need to regulate the sector as there was huge number of builders who have defaulted in their commitment of giving possession of flat to allotees. The real estate scam in India is apparent and need to regulate builders was important an then there are one sided agreements and cheating done by builders

About 67% of projects in Delhi/NCR are delayed by more than 2 Years.

The act has a provision of mandatory registration of Builders and real estate agents and establishment of real estate regulatory authority to look into the matters related to complaint against builders.

A Builder complaint can be lodged in RERA under Section 31 of RERA Act.

Image result for rera

Builder Complaint Before Real Estate Regulatory Authority

Every State in India has RERA and under RERA builder projects are registered there are stringent provisions under which the builder has to disclose details of the project and file sanction plans,completion dates etc before he could even do marketing of the project. There are strict penalty clauses in the act with regards to non-registration of the projects.

Under Section 31 an allotee can approach RERA and can file builder complaint under RERA act. The format of complaint differ from state to state. Here we will evaluating RERA forums of Delhi and NCR.

RERA in Delhi

Delhi Rera has interim Regulatory Authority situated at Vikas Minar ITO

Complete Address-:

14th Floor Vikas Minar, ITO, New Delhi

 The webpage of Delhi RERA is http://dda.org.in/rera/

They have online complaint link http://dda.org.in/rera/EncroachDataUpload.aspx

However it is advisible to visit and file complaint under section 31 of RERA act against builders or rela estate agents in Delhi.

RERA in Haryana

In Haryana two RERA authorities are there one in Panchkula and

Haryana RERA Office Address

Real Estate Regulatory Authority Haryana
Executive Officer, RERA, HUDA Complex (Central Block),
Sec-6, Panchkula.
Phone: +91 172-2583132
E-Mail: officer.rera.hry@gmail.com

Click here to download notification

RERA in Gurgaon

The Gurgaon RERA is situated at make shift office PWD Guest house

Haryana Real Estate Regulatory Authority (H-Rera) will be finally set up in Gurugram from February 1, officials said.

The temporary office will start functioning out of the public works department (PWD) guest house on Old Railway Road near the Gurugram police commissionerate. However, the permanent office will come up in Sector 44 six months later.

RERA in Uttar Pradesh

UP Rera has a proper website and a link to lodge complaint

Website http://www.up-rera.in/index

Address

6 J.C.BOSE MARG, LALBAGH,LUCKNOW, Uttar Pradesh

E-mail: contactuprera@up-rera.in

Interest and Compensation under RERA

The authority has wide powers for redressal of complaint under RERA hera are some of recent News of decisions by RERA

H-Rera fines Gurugram builder 30 lakh for advertising project without registration

“The authority is of the view that Krisumi Corporation has violated the provisions by publishing the advertisement in the newspapers as well as on the website without getting prior registration of the project from the Haryana Real Estate Regulatory Authority, Gurugram in whose jurisdiction the said project falls and thereby committed the violation of Section 3 (1) of the Act and rendered themselves for action under Section 59 (1) of the ibid Act,” H-Rera chairman Khandelwal observed in the detailed order. Directing the company to pay Rs 30 lakh as penalty for the violations, the authority further observed that such violation would not be allowed.

Source: https://timesofindia.indiatimes.com/city/chandigarh/h-rera-fines-gurugram-builder-30-lakh-for-advertising-project-without-registration/articleshow/63497315.cms

MahaRERA imposes Rs 50 lakh fine on Piramal Realty

Moneycontrol.com–06-Apr-2018
“Section 11 (2) of RERA states that the advertisement or prospectus issued or published by the promoter shall mention prominently the website address of the Authority, wherein all details of the registered project have been entered and include the registration number obtained from the Authority and such other matters …

RERA warns builders of action for late registration

Daily News & Analysis–16-Jul-2017
We can even take suo motu action against builders who fail to register their projects after the deadline of July 31, on mere intimation about the same,” said Vasant Prabhu, secretary, Maha RERA. “However, we are expecting all the builders to register their projects within the deadline or else we will fine the …

RERA to Mumbai builder: Compensate buyers for delay in giving …

Hindustan Times–31-Mar-2018
The Maharashtra Real Estate Regulatory Authority (MahaRERA) in its recent order has rapped a builder who violated construction rules and tried to put the blame of delay in possession of a flat on government agencies. The order also provided relief to homebuyers who were given possession of their …

MahaRera directs builder to refund cash component over delay in …

Times of India–20-Mar-2018
MUMBAI: Maharashtra Real Estate and Regulatory Authority (RERA) recently directed a builder to repay with interest Rs 25 lakh including a cash amount of … The Rera Member said that grounds of delay given by the builder, could be treated as mitigating factors to refuse buyer’s claim for compensation.
 
Advocate Nitish Banka
9891549997
 
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Dear Mr Banka

I have a query regarding UP rera law. I had been alloted a plot by greater noida authority (through lucky draw) in 2010 in project name Zeta 2.
I had made full payment in 2010 only along with registry amount. Possession of the plot was supposed to be in 2 years but till date they have not given possession . Recently Greater Noida authority wrote a letter to all plot holders to take refund of money @ 4% Simple interest or wait for more time , as they are not able to offer possession to us due to some legal litigation filed by farmers on the proposed land.
 
Now In the Project brochure , following clauses were mentioned
1. Authority was charging buyers with 15% interest on every delayed payments
2. Authority mentioned in case of force majure clauses where authority is unable to offer posession of plots , it will refund money @ 4% simple interest to plot holders
 
Now my query to is that , 
1. Will this project which was launched in 2010 come under the ambit of UP RERA law as it is still on going project ?
2.  Cant i ask the authority to refund my money as per UP RERA ACT with higher interest rate (instead of just 4%) ?Because as per my knowledge UP RERA laws , interest payable by builder for delay should be same as builder charges for delayed payments?
 
Please suggest a suitable remedy.Shall be grateful
Thanks in advance
Vaibhav 
 
Reply   
 

hello Vaibhav

Answer to first query1. - yes project is under preview of  UP Rera.

Answer to second query - yes,

Trivendra Kumar Sharma

Lucknow

 
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