SC seeks roadmap for model builder-buyer deal in the real estate sector 

The SC noted that the roadmap would facilitate formulation of a feasible model agreement, which would also accommodate the individual needs and exigencies of respective states or Union Territories.

Published: 14th August 2022 07:40 AM  |   Last Updated: 14th August 2022 07:40 AM   |  A+A-

Supreme Court (Photo | EPS)

Supreme Court (Photo | EPS)

NEW DELHI:  The Supreme Court has asked the Centre and amicus curiae Devashish Bharukha to work on a roadmap to protest the interest of the homebuyers. The court was hearing a PIL seeking to frame a model builder-buyer agreement and an agent-buyer agreement in the real estate sector, as envisaged under the Real Estate (Regulation and Development) Act, 2016.

Following the submission made by the amicus curiae regarding deviation from RERA in states, a bench headed by Justice D Y Chandrachud on Friday asked Additional Solicitor General Aishwarya Bhati and Bharukha to draft a roadmap so that directions can be issued to all stakeholders.

The SC noted that the roadmap would facilitate the formulation of a feasible model agreement for sale, which would also accommodate the individual needs and exigencies of respective states or Union Territories. “ASG and amicus can sit together to frame a draft roadmap. We can then pass an order so that the process begins,” said the court. Bhati appeared for the Ministry of Housing and Urban Affairs (MoHUA).

The bench has also directed all the state governments to reply to the deviations and variations pointed out in the implementation of the RERA Act and corresponding rules and laws in their jurisdiction within three weeks.

The court, while listing a batch of pleas seeking implementation of a model builder-buyer agreement across the country on September 16, said it would pass directions on the next date of hearing based on the suggestions of the amicus curiae. Earlier, Bharuka told the court that he had filed the status report collating entries of the different states and the central government. He told the court that some states were yet to notify the agreement for sale. He also mentioned deviation from RERA Act in states. 



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