UP RERA directs developers to sign agreement for sale with buyer
UP RERA has mandated that developers must sign an agreement for sale with buyers once they collect more than 10% of the unit's cost. This aims to protect buyers' interests and ensure compliance with Section-13 of the RERA Act. Promoters using formats different from the model agreement must provide explanations to the authority.
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has directed the developers to sign agreement for sale with the buyer after collecting more than 10% of the amount.
The authority raised objection on signing an agreement of different format from the model agreement for sale and sought clarification from the promoter.
Read more at:
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/up-rera-directs-developers-to-sign-agreement-for-sale-with-buyer/articleshow/114172777.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Reference: https://economictimes.indiatimes.com