Builders pri­ori­tis­ing RERA com­pli­ance

HT Estates - - HTESTATES -

de­lays in launches will not be a deal breaker.

Also, by mak­ing sure that their com­mu­ni­ca­tion to buy­ers is not mis­lead­ing and there are enough dis­clo­sures with re­gard to pro­vi­sions for timely de­liv­ery, de­tails of penalty, the in­ter­est to be charged, re­fund pol­icy etc, builders are try­ing to build bridges with the cus­tomers, bring­ing back the trust with the trans­parency in com­mu­ni­ca­tion, he says.

De­vel­op­ers’ at­tempt at self­dis­ci­pline is good. But if the pro­vi­sions of the Act give bet­ter ad­van­tage to buy­ers, the buy­ers will be en­ti­tled to it. For ex­am­ple, it is good to note that de­vel­op­ers and buy­ers will pay in­ter­est at the same rate for their re­spec­tive breaches but in­stead of 12% if the Act/rules/ draft agree­ment pro­vide for more, it would guide the re­la­tion­ship. The gen­eral prin­ci­ple is that the par­ties can­not get out of a statute (in the agree­ment), adds Sudip Mul­lick, se­nior part­ner, Khai­tan & Co.

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