And while notifying the execution of these gifts, the flat buyer paid the organizer a sum of Rs. – sold to the Flat Buyer and the Flat Buyer agreed to pay the balance of the sale price in the way it appears below. The Real Estate (Regulation and Development) Act 2015 aims to regulate and largely prevent fraud and fraud in the real estate sector and to look after the interests of homebuyers. However, the ambiguity in the provision of the law to register the sale agreement before payment of the money of the reservation, needs more clarity to actually benefit home buyers “The best part of this section is that home buyers will be a sale agreement first and then the payment of the amount of the reservation. The advantage they get is that they then know every detail of the project as well as the terms and conditions before making a payment to the developer. That is not the case now. Today, home buyers pay the amount of the reservation and then wait several months before the developer submits a contractor contract. In many cases, the contractor`s buyer`s contract is signed after home buyers have paid 30% of the total cost of the project,” says DK Garg, a Supreme Court lawyer. Section 2 of Section 13 specifies that the sale agreement defines the terms of development of the project, including the construction of housing and construction, as well as the specifications and details of internal and external development work and other details such as the interest rates that the developer must pay to the Allottee and the Allottee in the event of a delay to the developer. 9. The organizer hands the apartment to the buyer on or before … ……………
Day of …………… 19 …….. If the organizer does not own or neglect the homebuyer for reasons not under his control and representatives for reasons not under his control, the organizer, at the request of an interest refund of 9 per cent per year, is held responsible for the applause he received with respect to the apartment on the day that the promoter received the sum up to the date of the payment of the amounts and interest , provided that it is agreed by mutual agreement that the dispute, whether or not the provisions under Section 8 are completed, be referred to the competent authority acting as an arbitrator.