If price of flat become collapse can it beneficial for RERA
14-May-2023 (In RERA Law)
I made sale agreement to purchase a flat.I made a half payment only. Building is registered under RERA.Now because of some reason market is down and builder decided to down the prices of flat. Can I get benefit?
It all depends on what is mentioned in your sale agreement regarding revision of sale prices. However, as you are aware price fluctuation is norm of the real estate market. However, considering present circumstances are extraordinary circumstances, you can always take your chances and address the builder a formal letter seeking for a discount due to present circumstances. The builder might give you a substantial discount if not steep revision.
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