Our rights as citizens of the nation are being dabbled with every day, consciously or unconsciously. We lead fulfilling lives when we are aware of our rights, which keeps us safe and gives us a sense of belonging. Making ownership as enjoyable as possible also depends on your rights as a homeowner. Purchasing a house in Jodhpur is an investment is an investment that pays off in many ways, both financially and emotionally. As an apartment owner in Jodhpur, you must know and exercise you rights in order to enjoy them. We have outlined below the most important rights of apartment owners in Jodhpur for your conveinience. Homeowners rights may seem trivial, but knowning them is a safety net.
1. Written agreement
The first few meetings are typically filled with builders securing your booking deposit upfront. The payment of the booking amount is, however, subject to your rights. An advance payment of more than 10% of the property price is not allowed by RERA Rajasthan without a written agreement. The sale of a property in Jodhpur, Rajasthan, is valid without a written agreement signed by both parties. In addition to the receipt of your first payment, a builder’s booking or allotment letter is a legal document that confirms your purchase or booking.
2. Scheduling Payments in Stages
Each home buyer is entitled to receive a construction based payment schedule that includes details about every milestone, such as the foundation and the roof, that will occur during the construction. This schedule must be signed off by the builder before the contract can be signed. Before entering into an agreement with the builder, buyers should look at this construction schedule in order to protect their interests. In addition to providing buyers with a schedule of payments, the document allows the buyer and the loan officer to figure out how the process will proceed. As far as bank-related processesss are concerned, the builder supports the buyer at every step.
3. The Statement of Accounts
Every three months or as requested by the buyer, home buyers should receive statemets of accounts from the builder. Upon completing a milestone, the buyer is required to receive a receipt of payment as stipulated in the GST bill.
4. Home loan assistance
As part of the loan applicaton process, home buyers are entitled to receive assistance. An application for a loan can be intimidating for first time home buyers due to the number of documents and processes involved. In order to clear out any bottlenecks during the loan application process, the builder must provide the buyer with a No Objection Certificate and agree to a tripartite agreement.
5. The Amenities
Home buyers are protected by the RERA Act from not receiving the amenities promised by the builder in the broachures and advertisements. There are number of amenities that come with RERA () specificatons, including parking spaces, swimming pools, clubhouses, and party halls. A buyer can file a complaint with the RERA tribunal if a builder does not follow through on the initial amenities list.
6. Customer Centricity
A layout sanctioned by the regulatory body cannot be altered or added to by a builder or promoter according to Rajasthan RERA. In case of changes, the written consent of no less than two thirds of the allotees is required. This includes the plan, fixtures, amenities and fittings provided in every home.
7. Delayed Construction
Builders who do not deliver the property according to the initial agreement are responsible for paying interest on the property loan for each month the property is delayed.
8. Owner Association Formation
In accordance with RERA regulations, builders can promote the formation of entities such as associations, companies, and fedrations. A minimum of 51% of the building’s buyers must have reserved their flats in Jodhpur within three months from the date of booking. The apartment association formed for the welfare of residents is your duty and the right as a homeowner in a flat complex. A member of an association is a person who owns a flat and can attend meetings and discuss their issues with other members of the association.
A top builder in Jodhpur is always the best choice when buying a home or flats in Jodhpur. Besides making sure that their construction is of high quality, top best builders in Jodhpur also protect the rights of their customers. They have wide range of flat at certain location in Jodhpur. They have 1bhk flats in Jodhpur, 2bhk flats in Jodhpur, and 3bhk flats in Jodhpur at an affordable range. So explore their residential projects in Jodhpur page now.