NEW DELHI: With an aim to ensure transparency and protect the interests of home buyers as per the Real Estate Regulatory Authority (RERA) Act, 2016, the Supreme Court on Monday issued a notice to the Centre asking it to step in for framing a ‘model builder-buyer agreement’.
A bench headed by Justice D Y Chandrachud issued the notice on a plea seeking accountability of builders towards customers.
Advocate Vikas Singh appearing for the petitioner told the bench: “There is no mandatory language (under RERA). States may or may not frame the model builder buyer agreement (BBA). There should be a model to be adopted by the states.”
Advocate Menaka Guruswamy pointed out that as per Section 42A of RERA, the Centre is empowered to frame the rules on the implementation of the policy. Responding, the bench said it was an important issue of consumer protection.
Justice Chandrachud made it clear the court would only look into the aspect of a Model BBA, and would not go into the prayer seeking to compensate buyers for inordinate delays by promoters.
Niranjan Hiranandani, national vice-chairman, NAREDCO, said that it was a logical next step in the RERA regime.
“The apex court has asked the Centre to notify a model BBA which should be applicable pan-India. This is a positive step and should be welcomed,” he further said.