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Builder refusing to register BBA
19-Sep-2023 (In Property Law)
I booked a flat in January 2015 and took a loan from Tata Capital. The builder registered the project under RERA later. Tata capital has paid about 90% of the sanctioned amount.I’m paying 10.5% interest to Tata capital and no banks will entertain my application unless the flat is registered. I asked the builder to initiate registration as RERA rules stipulates. Builder says it is only applicable to new bookings and not old ones. Is this true? What are my legal options to force the builder to comply and register the builder-buyer-agreement?
Hi,the builder has to execute a builder buyer agreement after receiving 10 percent of the payment towards the apartment ..The RERA act applies to the bookings made at your period of time ..It is advisable to file a complaint before RERA forum
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Adv. Hemant Chaudhary
Gurgaon / Gurugram | 25+ Answers
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Hello you can enforce your rights and get the builder buyer agreement executed. you need to give more details like did you executed tripartite agreement between you, builder and financial institution/bank to advise further. however you can send a legal notice to builder thorough your legal counsel, if dispute is not resolved you can initiate proceedings before Consumer court or Rera and get your rights enforced.
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Adv. Ranbir Singh
Faridabad | 25+ Answers
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