Good News & Bad News for Redevelopment in RERA
7 June 2017, Mumbai: Good news no. 1: Individual flat-owners can complain to RERA against builder. If the rights of even one individual flat-owner (called "allottee" under RERA) are dishonoured by the builder ("promoter"), then that flat owner can just fill up some forms and pay Rs 5000/- as the fees, and seek compensation, interest, etc. and have the builder heavily penalized. Unlike court battles, this is a quick and effective solution. Until the advent of MahaRERA (Maharashtra Real Estate Regulatory Authority appointed as per Real Estate Regulation Act 2016), builders were herding flat-owners like flocks of sheep, because individually, they were voiceless. Only the cooperative housing society's office bearers had a voice, and individual flat owners were helpless. Even the doors of the police and High Court were closed for individuals or minority groups. Now, after RERA, the days of builders and office bearers herding society members like flocks of sheep ...