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RERA project warranties: Extent of coverage

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RERA project warranties: Extent of coverage

Last updated: March 12 2020
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  • RERA project warranties: Extent of coverage

    As per the Real Estate Regulatory Authority (RERA) what kind of project warranties are being covered by developers?
    Last edited February 5 2020, 03:01 PM.
  • #2

    #2

    Re : RERA project warranties: Extent of coverage

    RERA had made poduct warranties in Indian real estate mandatory since 2017. In major property markets, developers are still banking on 'quality construction' as buyers don't seem to hesitate to shell out more for assured quality. However, there are certain points like structural defects and incompetency covered under the warranty and extended warranties that cost a little extra.
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    • #3

      #3

      Re : RERA project warranties: Extent of coverage

      Thanks Malvish but are builders abiding? Do they provide warranties on their projects? If they do, what are they? I haven't heard anything about it.

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      • #4

        #4

        Re : RERA project warranties: Extent of coverage

        mmalhot yes they do with a few exceptions here and there. Just like you said that you haven't heard about, many buyers are unaware of it and some developers play along.
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        • #5

          #5

          Re : RERA project warranties: Extent of coverage

          The defect liability clause - RERA holds a developer liable to fix any defects in the project until five years without charging anything from the buyer, under Clause 14 (3) of the Real Estate Act.
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          • #6

            #6

            Re : RERA project warranties: Extent of coverage

            Malvish how much time do they get to fix the defects in a project?

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            • #7

              #7

              Re : RERA project warranties: Extent of coverage

              As per the defect liability clause, a developer is liable to fix defects in the project within 30 days failing which, a home buyer becomes eligible to get compensation.
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              • #8

                #8

                Re : RERA project warranties: Extent of coverage

                mmalhot actually, I have just read about the defect liability clause but not seen or heard about any such successful case. Have any of you here on the forum heard of such cases?

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                • #9

                  #9

                  Re : RERA project warranties: Extent of coverage

                  mmalhot even before RERA some builders used to provide project warranty for a maximum period of 2 years but after RERA it has been extended to 5 years. And yes, I have come across such cases personally, one very recently, where the kitchen entrance was not as planned and later was changed as per the buyers' choice.
                  Last edited February 11 2020, 09:11 AM.
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                  • #10

                    #10

                    Re : RERA project warranties: Extent of coverage

                    Malvish well, those were lucky buyers it seems. I have seen many regretting buying in projects with defects that were never changed. Maybe it applies to new projects being developed after RERA.

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