What are the Duties and Functions of Promoters, Real Estate Agents, and Allottees Under RERA – Gajanana Sumuk
People have many questions related to RERA and duties of promoters, allottees, and real agents under RERA. So, let us try to answer some of these questions in the following sections. What are the duties and functions of promoters under RERA? Few of the duties and functions of promoters of luxury homes and apartments available in Whitefield Bangalore are: • They need to disclose all required information about the project. • Promoters of apartment for sale at ITPL should adhere to approved project specifications and plans. • They need to abide by obligations related to veracity of their prospectus or advertisement. • If there are any structural defects then those are to be rectified within 2 years of possession. • If there is a default then money is to be refunded. What are the duties of real estate agents? Real estate agents dealing with properties like Gajanana sumuk have to: • They need to only sell properties (like 2 bhk Apartment for sale Whitefield) which have been registered with legal authorities. • Real estate agents should not get involved in any type of unfair trade practices. • They should maintain documents, records, and books of accounts. What are the duties and rights of allottees? Allottees of luxury homes and apartments available in ITPL Bangalore need to: • Claim possession of the property according to declaration by promoter. • They have the right to obtain Gajanana sumuk project’s time schedule on a stage wise basis. A Final Note To summarize we can say that RERA has been successful in clearly defining role and responsibilities of various entities involved in real estate transactions, which, in turn, will help in streamlining real estate procedures. http://www.gajananasumuk.com sumukgajanana@gmail.com
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