Tax on Property- Stamp duty

The right to demand money back if the project is delayed by builder..

A person thinks that he will buy a house for his family by collecting hard earned money during his whole life. But many times people lose their money due to lack of correct information and became victims of fraud. Such people not know what things should be kept in mind while buying a flat. For e.g.
What documents of the builder or project should be seen before buying a house
Whether all the permissions have been taken by the builder for the development and construction of the project.
Keeping these things in mind, RERA (Real Estate Regulation and Development Act) has been implemented since 2016. In this, several provisions have been made to protect the interests of buyers, builders and agents.

MP Real Estate Regulatory Authority:

A Real Estate Regulatory Commission has been set up at the state level under RERA. In this, registration with RERA is mandatory for all schemes except construction up to 500 square meters or 8 units.

What option does the buyer have to verify the builder's claims?

Before buying the property, check whether the project is registered with RERA or not. All the details of the project, builder, promoter, copy of the documents are available on

In case of non-completion of the project within stipulated time and delay in possession, the buyer can claim refund under section 18 of Rera. The promoter will have to return the entire amount with interest.

If the buyer continues with the project even after the delay in work under section 18, the buyer can demand compensation from the developer every month till possession of the flat.

In sub-section 3 of section 14, there is a rule to remove complaints about the quality of construction and service in the building within 30 days without taking extra charge for 5 years.

RERA audits its registered projects in every 3 months. Updates related to the finance, construction and development of the project can be seen in its audit report. An on-the-ground visit can be made by Rera to be sure about the progress of the project as per the commitment.

A buyer should only pay the cost of the flat to builder keeping in mind the carpet area, build-up area and super-build-up area. Schools, hospitals and other social infrastructure should be taken care of as well.

RERA rules for the benefit of buyers:

RERA registration is necessary before construction. The builder has to submit copy of ownership documents, diversion, TnCP layout, colonizer license, colony development permission, Nazul NOC and other permissions to RERA.

All the information about the land ownership, builder, promoter, company, bank account information and what development or construction of the project that is being and will be done, how many units will be made, all this information has to be given in RERA.

The builder has to complete the project within the stipulated time given in RERA and hand it over to the buyer. Any wear and tear, damage or loss caused to the property within 5 years of the sale of the RERA registered project is the responsibility of the builder.

Every project on the RERA website has a bank account number to which the buyer has to make the payment. It is necessary to use 70% of the amount in the project. The bank account is in the name of the builder and the project