Announcement

Collapse
No announcement yet.

UP Apartment Act

Collapse
X
Collapse

UP Apartment Act

Last updated: October 22 2010
12 | Posts
  • Time
  • Show
Clear All
new posts
  • #11

    #11

    Re : UP Apartment Act

    Originally posted by RoyalMax View Post
    Under UP Apartment Act it is mandatory that BBA be registered with 2% stamp duty (adjustable against 5% payable at the time of final transfer), This does not suit investors as it is additional cost. In any case they have to exist before final registration.

    I too went through Act. It is a great piece of work. Protects genuine buyers. Also takes care of errant house owners who do not pay mtc. charges.

    I wonder how come this Act has not made the noise it should have. Hats off to Mayawati. She flooded Noida market with projects and brought this legislation. Genuine buyers are winners all the way.

    Unfortunately there is little awareness about this Act. Buyers are signing BBA on dotted lines without bothering to verify its compatibility with new Act. If you are investing 30-40L for house, pls. do not mind spending few Ks to consult a lawyer and buy peace of mind for rest of life.

    As I have said, it is buyers market today. If pressed by a group, builder will have no choice but to accept the Act and follow it. Only if we shed this herd mentality.....

    Thanks for the initiative here RoyalMax and others. If you guys are consulting a lawyer, please let the group know of the possible recourses.

    Any lawyer or law student on the forum - please chime in..

    Comment

    • #12

      #12

      Re : UP Apartment Act

      Benefit of Up apartment Act 2010 + WHAT TO DO if BUILDER NOT FOLLOWING SAME

      Benefit of new appt act would get extended provided your builder buyer agreement has the compliance to the same. It should read out that the "Project construction shall be governed by UP apartment ownership act 2010 "AND" other laws applicable till the time of possession. It should not be word "OR " but word "AND".

      For benefits downlaod the act from http://awas.up.nic.in/ . There are two links one reads UP Apartment Act rules and other is Act in English .

      U.P. Apartment Act Rules, 2010



      U.P Apartment Act in English

      Download both but ref to Second one and read :-
      Duties and Liabilities of Promoter : Page 4 Para 4 . It says all in brief. Advantage that it offers is as per para 5,6 (completion certificate -Very IMP ) and para 7,8,9 in page 6.

      There is one very imp clause that says that builder will obtain completion certificate before giving possesion. Which is a very very imp thing as without it you can not register your house on your name. So you see that with this law the liability of taking completion comes on builder. as many times they deviate from the laid or approved plans for minor gains even after sucking us. So you don't get completion certificate even if you are offered possession. So it suits the builder that he as promised has given you possession , but what if you could not register your house on your name because of completion certificate.

      So New Act covers most of the things. Read as indicated above to get an idea. The issue now is What if builders are not following as told by the govt. Whom should this issue be reported to. I am sure there are many lawyers/ IAS / Def offrs/ CA/ CS / etc... involved in buying a house for themselves. can any educated guy comment on this issue of reporting to appropriate chain in govt as most of the builders are not mentioning many things in their agreement as against the laws.

      Comment

      • #13

        #13

        Re : UP Apartment Act

        Do any of the people knows an RTI expert. This type of laws implementation information should be their with the government agencies, we can ask in RTI about the validity and application of this act in the noida and greater noida scenario.

        Comment

        Have any questions or thoughts about this?
        Working...
        X