Obligations of promoter after registration of project

Obligations of promoter after registration of project
  • General
  • Monday 9th September 2019
  • Author: Shreya Uppal

Highlights

  • After registration of the project with the RERA Authority, the promoter has to fulfill various duties as per the RERA Act, 2016. The promoter has to keep in mind all the relevant duties which need to be complied with.

  • The promoter shall be responsible to execute a registered conveyance deed of the apartment in favor of the allottee along with the undivided proportionate title in the common areas to the association of allottees.

After registration of the project with the RERA Authority, the promoter has to fulfill various duties as per the RERA Act, 2016. The promoter has to keep in mind all the relevant duties which need to be complied with.

Some of the obligations have been described below:
1. As per
Section 11(1) of the RERA Act, 2016, after receiving the login id and password, he shall create his web-page on the website of the authority and enter all the details of the project for public viewing.
2. The following details shall be incorporated by the promoter:
(a) The registration details granted by the RERA Authority.
(b)
The quarterly status of the project needs to be updated.
(c) Other quarterly information like updating the list of no. and types of apartments booked, list of no. of garages booked, etc.
3. As per
Section 11(4) of the RERA Act, 2016, the promoter shall be responsible to obtain the lease certificate certifying that all dues in regard to the leasehold land have been paid so that the same can be made available to the association of allottees.
4. The promoter shall be responsible to execute a registered
conveyance deed of the apartment in favor of the allottee along with the undivided proportionate title in the common areas to the association of allottees.
5. The promoter shall be liable to pay all outgoings like rent, municipal taxes,
maintenance charges, etc. until he transfers the physical possession of the project to the allottees.
6. As per
Section 12 of the RERA Act, 2016, any deposit or advance received on account of any false, incorrect advertisement or information, the loss suffered shall be compensated by the promoter.
7. As per
Section 13 (1) of the RERA Act, 2016, the promoter cannot accept a sum more than 10% of the cost of the apartment as an application fee, from a person without first entering into a written agreement for sale and registering the same.
8. As per
Section 14 (1) of the RERA Act, 2016, the proposed project shall be developed and completed by the promoter in accordance with the sanctioned plans, layout plans, and specifications approved by the competent authorities.
9. Any minor additions and alterations in the sanctioned plans, layout plans shall not be carried out by the promoter in respect of an apartment without the previous consent of that particular homebuyer.
10. The
previous written consent of atleast 2/3rds of the allottees who have agreed to take apartments in that project shall be required to make any other alterations or additions in the sanctioned plans.
11. In case of any
structural defect or any defect in workmanship, quality or provision of services within a period of 5 years from the date of handing over the possession to the allottee by the promoter, it shall be the duty of the promoter to rectify such defects within 30 days from such date.
12. As per
Section 16 of the RERA Act, 2016, the promoter shall be required to obtain all the required insurances like insurance in respect of title of the land and building as part of the real estate project and in respect of the construction of the real estate project.
13. He shall also be liable to pay the premium and charges in respect of the insurance made before transferring the insurance to the association of the allottees.
14. As per
Section 18 of the RERA Act, 2016, if the promoter fails to complete or is unable to give possession of an apartment, he shall be liable to return the amount received by him in respect of the apartment with the interest rate prescribed by the law including compensation due.

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Tags: 
structural defectsanctioned plansmaintenance chargesconveyance deedwebsite

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