The Real Estate (Regulation and Development) Act, 2016 (RERA) was introduced to regulate and protect the interests of homebuyers in the real estate sector in India. While RERA lays down the framework for regulating the sector, it also places certain responsibilities on the society or the association of allottees of a real estate project. In this blog, we will discuss the roles and responsibilities of the society under RERA.
Formation of Society - One of the primary responsibilities of the society under RERA is to form a legal entity that represents the interests of the homebuyers in the project. The society should be formed within three months of the allotment of the first unit in the project. The society should be registered under the Societies Registration Act of the respective state and should have a minimum of eight members.
Monitoring of the Project - The society has the responsibility to monitor the progress of the project and ensure that it is completed within the timeline specified in the agreement with the homebuyers. The society should also ensure that the promoter has obtained all necessary approvals and permits from the relevant authorities before commencing construction.
Monitoring of Promoter - The society has the responsibility to monitor the activities of the promoter and ensure that they comply with all the provisions of RERA. The society should ensure that the promoter maintains transparency in all transactions related to the project and provides regular updates on the financial status of the project.
Maintenance of Common Areas - The society has the responsibility to maintain the common areas of the project, including parks, gardens, swimming pools, and other amenities. The society should ensure that the common areas are well-maintained and provide all necessary services to the homebuyers.
Legal Remedies - The society has the responsibility to take legal action against the promoter in case of any non-compliance with the provisions of RERA. The society can file a complaint with the RERA authority or the consumer court to seek redressal for any grievances related to the project.
Conclusion - The society plays a crucial role in ensuring that the interests of the homebuyers are protected under RERA. The society should be proactive in monitoring the activities of the promoter and ensure that they comply with the provisions of RERA. The society should also ensure that the common areas of the project are well-maintained and provide all necessary services to the homebuyers. It is essential for homebuyers to be aware of the roles and responsibilities of the society under RERA to ensure that their interests are protected.
