{"id":1265,"date":"2023-04-19T06:19:12","date_gmt":"2023-04-19T06:19:12","guid":{"rendered":"https:\/\/www.homebazaar.com\/news\/?p=1265"},"modified":"2023-04-19T06:19:21","modified_gmt":"2023-04-19T06:19:21","slug":"government-will-set-up-a-panel-to-initiate-a-work-on-the-builder-buyer-agreement","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/news\/government-will-set-up-a-panel-to-initiate-a-work-on-the-builder-buyer-agreement\/","title":{"rendered":"Government Will Set Up A Panel To Initiate A Work On The Builder-Buyer Agreement"},"content":{"rendered":"

The government has the plan to set up a dedicated committee to work on a model buyer agreement to streamline the homebuying process & protect the consumers from potential abuses, as stated by one of the top government officials.<\/span><\/p>\n

The consumer affairs ministry secretary said \u201cThe committee will include the members from various consumer bodies, national & state consumer commissions, judges, lawyers, & ministry of consumer affairs, within the next three months arranging the committee will be completed.<\/span><\/p>\n

Few days back, a round table conference was arranged on \u2018How to redress the grievances happening in the real estate sector\u2019, the Department of consumer affairs with the Government of Maharashtra hosted this particular conference.<\/span><\/p>\n

The issues between the home buyers & the developer can be possibly solved if the contract between the buyer & builder is standardized & uniformity is maintained. This unique document will be applicable across India.<\/span><\/p>\n

The consumer affairs ministry secretary stated – \u201cWe have planned to form a committee & a model agreement document between the seller (builder) & the buyer. The model agreement will be developed with the consultation of all stakeholders. And later it will be submitted to the supreme court & provide to the states. The supreme court also has shared its view stating the document should be applicable across the country as some states already have such kind of document in place.\u201d<\/span><\/p>\n

He further said – \u201cAround 5.5 lakhs cases are still pending across the available consumer courts in the country. Within them, 54000 cases are specific to the housing sector alone.\u201d<\/span><\/p>\n

Delay in providing the possession of the property, no compensation provided for the delay in the possession of the property, on-sided & unfair builder & buyer agreement, offered amenities are not as per the agreement, misleading advertisements by the developers, etc are the key issues facing by the homebuyer.<\/span><\/p>\n

Later he concluded the topic by stating solutions – \u201cFor solving such issues, the significant suggestions are been discussed during the conference, including providing the draft agreement to the buyers before the execution, the first page of the agreement will mention the permissions & sanctions gained from the competent authorities, prohibiting the builders from the launch of the projects before obtaining the required permissions & sanctions, etc.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The government has the plan to set up a dedicated committee to work on a model buyer agreement to streamline the homebuying process & protect the consumers from potential abuses, as stated by one of the top government officials. The consumer affairs ministry secretary said \u201cThe committee will include the members from various consumer bodies, […]<\/p>\n","protected":false},"author":2,"featured_media":1266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117],"tags":[445,359,446],"class_list":["post-1265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-builder-buyer-agreement","tag-latest-real-estate-news","tag-real-estate-in-india"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/comments?post=1265"}],"version-history":[{"count":0,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media\/1266"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media?parent=1265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/categories?post=1265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/tags?post=1265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}