Will investors be treated as buyers or as different category, acc. to RERA & MahaRERA?
Buyers, etc are termed as ‘Allottees’ in RERA Act. So, for such investor to be an allottee, has to receive the plot, apartment, etc from the Promoter.
The subsequent buyers are considered as buyers as well, for the matters concerning promoter and buyer, leaving out matters between 1st and 2nd buyer.
It also includes buyers buying as leasehold but doesn't include tenants of the buyers.
All of this is applicable only when Promoter & Buyer have entered into Agreement to Sale. Otherwise, it shall be governed by terms of Allotment Letter.
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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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