News & Media 22nd Aug 2022

India’s most delayed residential projects

Authors

Heena Chheda Partner | Mumbai

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In an FAQ session with moneycontrol.com, Heena Chheda, Partner at Economic Laws Practice (ELP) answers some of the frequently asked questions that homebuyers should ask before buying a house.

Heena answers the following questions:
– Is the project RERA registered?
– Whether all the permissions have been obtained and are valid and subsisting? Whether the plan of the entire building to be constructed has been sanctioned?
– When will the project along with all common areas, amenities and facilities be completed and handed over to the buyers/society?
– What are the financial arrangements made by the builder?
– What are the terms of the booking form and cancellation of the booking form / allotment letter including refund of advances?
– Is there a penalty clause?
– What are the other costs and deposits to be paid by the buyer/investor to the builder?

Read a detailed response to these questions here