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Effect of RERA on registration of property
27-Jul-2023 (In Property Law)
I have bought the flat at the price of 6900 Rs/sqft. I have obtained 55% home loan on the total value and remaining I am planning pay it myself in white through cheque. There are lot of people who bought the same property by paying 30% of money in black 70% in white, thus the per sq ft price for them on the paper will be less than the price I am going to pay. Since RERA Act is going to be implemented my builder is asking me to sign another supplement agreement stating that I have been charged higher for getting the interior done from them(which is not true). They have also said that this will not create any problem to me during registration or at any point, they are doing this just so that in future if they are questioned by the government official about the price/sqft difference for different people this agreement will save them. Please me understand the consequences if any ? Please help me with legal advice
Firstly, your construction agreement would have been registered. So, modifying the terms by an unregistered agreement by inserting additional terms is not proper. Secondly, if the other purchasers indulge in practices as you have stated, it is open for the builder to quote a smaller price for them listing lesser amenities. The RERA doesn't impose that the price should be uniform.
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