Alka Verma-
Published On: October 04, 2021 at 14:54 IST
The Supreme Court of India issued a notice to the Centre regarding a Plea and asked the Centre to outline a “Model Builder Buyer Agreement” and also Agent-Buyer Agreement under Real Estate Regulatory Authority (RERA).
The Court asked the Centre to do this so that there can be a transparent system and fairness, limiting developers and brokers from enjoying out of line and prohibitive exchange practices.
A Bench comprising Justices D.Y. Chandrachud and B.V. Nagarathna stated, “This is an important issue on the protection of buyers, often (this issue) is put on the back foot by clauses in agreements made by builders.”
The Bench also observed that a uniform Builder-Buyer Agreement is needed to be outlined by the Centre so that the interests of Lakhs of Home Purchasers can be protected.
It also noticed the Plea filed brings up the issue that without a trace of a Model Arrangement, Level Buyers are left helpless before developers in regards to the Agreements.
Further, the Bench stated that once the agreement is made, then it can ask the State Government to follow it and also said that it is an important matter in regards to Consumer Protection.
The Bench made such directions when it was dealing with a Public Interest Litigation (PIL) filed by Advocate and BJP Leader Ashwini Upadhyay.
Through the PIL, the Advocate wished to seek directions for all States to enforce the ‘Model Builder Buyer Agreement’ and also sought directions for having adequate measures to avoid all the mental, physical and financial injury to customers.
Furthermore, the Plea also asked for guidelines to compensate the Buyers for all the loss suffered by them due to the delay of the project.
Also Read: Recent Judgments on RERA ACT, 2016
RERA- The Estate Regulatory Authority