The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for developers to upload the proforma of allotment letter and agreement sale. It has issued a notification stating that hence forth, developers have to upload these drafts at the time of registration of the project.
Any modifications made in the allotment letter and agreement of sale should be highlighted and these must be approved at the time of registration, MahaRERA said. If the proforma of model agreement of sale and allotment letter is found in contravention of rules, the project will be cancelled, it said. Anand Gupta, chair person of Housing and RERA Committee, Builders Association of India (BAI), welcomed the move.
“It will encourage one state one allotment letter and agreement of sale. A standard draft will be followed by the developer, preventing discrepancy,” he said. A MahaRERA official said that the objective was to reduce litigation and give maximum information to buyers.
“Moreover, many a time it has been found that when possession of house is delayed, usually the buyer provides the allotment letter or agreement of sale. But many a time a lot of things committed by the developer is not in the draft. Often the deadline for handing over possession is also not mentioned. With a standard model allotment letter and agreement of sale, all these issues can be swiftly sorted out,” the official said.
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