Apart­ment act 2010 for builders

HT Estates - - FRONT PAGE -

Make full and true dis­clo­sure: Any pro­moter/ builder who in­tends to sell an apart­ment has to make full and true dis­clo­sure of rights and his ti­tle to the land, all en­cum­brances etc to the com­pe­tent au­thor­ity

Spec­ify con­struc­tion date, penalty: Ev­ery de­vel­oper has to spec­ify in writ­ing the date by which con­struc­tion of the apart­ment will be com­pleted and de­clare penalty for de­lay in com­ple­tion of the build­ing and also penalty in case of non-pay­ment of in­stall­ments by the pur­chaser

No al­ter­ation af­ter sanc­tion of plan: Once a de­vel­oper gets his plan sanc­tioned from the com­pe­tent au­thor­ity, he can­not make any change in the plan with­out the con­sent of the in­tend­ing pur­chasers

Ob­tain com­ple­tion cer­tifi­cate: An apart­ment may be trans­ferred by the de­vel­oper to any per­son only af­ter ob­tain­ing the com­ple­tion cer­tifi­cate from the pre­scribed sanc­tion­ing au­thor­ity con­cerned as per build­ing bye laws

Hand­ing over com­mon ar­eas: Af­ter hand­ing over the pos­ses­sion of the flat, the builder will have to hand over the com­mon ar­eas and fa­cil­i­ties and also the orig­i­nals of the plans and doc­u­ments to the as­so­ci­a­tion of apart­ment own­ers

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