Know your rights before buying a home

Buying ready to move in flats in Gurgaon under the affordable housing scheme, is an exciting phase – when you start looking for the dream home, visiting properties, negotiating, legal work, etc. It comes with a lot of responsibilities & one of them is legal work. The Government of India has introduced certain laws to look for consumer’s interests and promote transparency in real-estate transactions. Therefore, you should have a clear idea about all the legal rights, you have as a home buyer. It can prevent issues related to service delivery and pricing.

Right to be informed
A homebuyer or allottee has the right to obtain full & truthful information regarding the residential projects in Gurugram and the developer along with previous history, building layouts, legal sanctions, specifications and other approvals from the concerned authority.

Structural alterations
A homebuyer can lodge a complaint against the developer if they make any major structural alterations in the layout, fittings, sanctioned plans and amenities of the residential projects in Gurugram without the consent of at least 2/3rd of the buyers, besides the promoter, who agreed to buy an apartment in a building.

Construction schedule
A homebuyer can rightfully ask for details about stage-wise completion of the project including provisions for sanitation, electricity, water & other amenities and services as agreed to between the developer and the allottee, according to the terms and conditions of the sale agreement.

Right to refund
The National Consumer Dispute Redressal Commission (NCDRC) has held that homebuyers can ask the developer to refund the entire amount with 10 per cent interest refund if possession is delayed beyond a year from the date of delivery by the builder.

Right for inspection
As a home buyer, you can ask for a thorough inspection of the residential projects in Gurugram to ensure quality and the amenities before making the purchase. The home buyers have the right to visit the project site to see the progress of the project that they have invested in.

Possession rights
The allottee or homebuyer has a right to claim the possession of a plot, building or ready to move in flat in Gurgaon as mentioned at the time of the purchase whereas, the association of allottees is entitled to claim the possession of the common areas.

Document possession
The allottee or homebuyer has the right to demand all the relevant documents and plans related to the property that the allottee wants to buy, including that of common areas, after handing over the physical possession of the unit.

Project delays
If in case a project gets delayed and if the buyer does not want to withdraw from the project, then the developer is liable to pay the buyer monthly interest instalment on bank loans for every month of delay as per the agreement at the time of purchase. This is applicable for under-construction projects.

Structural defects
If a buyer finds any structural deformity or defect in the project within 5 years of purchasing, then the developer or property seller will be liable to render it without any further charges. If the developer fails to do the same within 30 days, the buyer is entitled to compensation.

Before buying a home, it is important to know your rights and the things you can claim. The government has launched policies and measures to protect home buyers from fraud.