As inspection specialists assist consumers to check the quality of the house before they take possession, developers have started to rely on third party audits of completed projects before handing over to consumers. RERA too mandates that developers must adhere to a five-year defect liability period for structure and services. E JAYASHREE KURUP speaks to experts on why this has helped in upgrading the quality of the asset.
Gone are the days when the developer could hand over a partially completed house to a consumer and expect the buyer to take possession quietly. Today, after the Real Estate Development & Regulation (RERA) Act, it is the consumer’s right to insist on getting everything that was promised to him in the builder-buyer agreement. In addition, the developer has a five-year defect liability period so that any structural defect has to be repaired at the builder’s cost for five years after possession is handed over to the consumer.
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