When should the Promoter apply for the Society/Apartment/Legal entity of Association of Allottees (home-buyers) for the New Project?
If Society/Apartment etc - As prescribed time in local laws. In the absence, 3 months after 51% units being sold or after Occupancy Certificate, whichever earlier.
If Federation/Company for multiple societies/apartments? Then within 3 months after receiving OC for the last building.
Promoter to invite the home-buyers for the process, for which such home-buyers are duty-bound to participate.
Failure - Authority shall order the Promoter to apply for formation or permit the home-buyers to apply.
Looking for more such advice? Or, seeking RERA consultation for your project, want to register your project or comply RERA by quarterly updating your project? Contact us today!
The information relayed in this blog should not be construed as legal advice. The applicability of information varies on the basis of the circumstances of each case. But feel free to call us for similar advice.
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