When should the home-buyers get Society/Apartment/Legal entity of Association of Allottees (home-buyers) formed for the New Project from the Promoter?
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 allottees for the process, for which such allottees are duty-bound to participate.
Failure - Authority shall order the Promoter to apply for formation or permit the allottees to apply.
Looking for more such advice? Or, RERA consultation on your new home? 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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