Browsing: Advocate Nirmit Srivastav

Consumer Connect Disclosure Standards, Real Estate Disclosure Standards, Real Estate Due Diligence, Escalation Clause, Price Escalation Clause, Uniform BBA, Builder Buyer Agreement, Advocate Nirmit Srivastav

Trust deficit in absence of disclosure standards & uniform contract

This is not a one-off stray incident of cheating in the housing market in this part of the world. Srikanth had a similar experience with the Gurugram-based developer when he wished to sell out his much-delayed under-construction property due to medical emergency in the family. The developer refused to transfer the property in the name of the new buyer. He instead offered him to buy back the said property at three years old price when Srikanth had booked the apartment. The choice for this harassed home buyer was to either forget about the appreciation or else get into a costly and lengthy litigation.

Consumer Connect RERA, Real Estate Regulatory Authority, RERA Satisfaction Index, RERA Toothless Body, RERA & Home Buyers, RERA Recovery Certificates, RERA Execution Orders, Advocate Nirmit Srivastav

RERA Satisfaction Index pretty low across India

The home buyers have for long alleged that the RERA has failed to provide them substantial relief in the wake of project delay or defaults. Now the Allahabad High Court has also taken cognizance of the issue and has not only questioned reasons of non-execution but also asked for the roadmap as to how RERA Recovery Certificates would be executed.

Editorial Advocate Nirmit Srivastav, Lucknow High Court, Unfair Contract, Consumer Court, Builder Buyer Disputes

Unfair Contract is a disease: Advocate Nirmit Srivastav

In India, the moment you buy a house the joke is on you – whether you get the possession of the house, or that possession is delayed or even denied. The buyers’ harassment starts with the Builder Buyer Agreement which in most of the cases is a one-sided document. The buyers mostly have no other choice but to sign on the dotted lines, because by the time the Builder Buyer Agreement is thrown at their face they have already paid the initial booking amount.