News & Media 22nd Aug 2022
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?