+
Supreme Court highlighted the need for a model builder-buyer agreement
Real Estate

Supreme Court highlighted the need for a model builder-buyer agreement

On Monday, the Supreme Court once again highlighted the requirement for a model builder-buyer agreement to protect the interest of middle-class house buyers and requested the Centre to view preparing uniform rules under the provisions of RERA.

The top court told the media that it wants that instead of leaving it to the States, the government makes the model builder-buyer agreement and model agent-buyer agreement which shall be suitable for the whole nation.

A bench of Justices DY Chandrachud and Surya Kant told the media that they are concerned about the broader public interest of the middle-class house buyers and requested Solicitor General Tushar Mehta, appearing for Centre, to ask for a considered opinion on the issue.

Justice Chandrachud told the media that the whole purpose of the present PIL is that there must be a model builder-buyer agreement which will be prepared by the central advisory council so that there is some uniformity in the basic terms and conditions and the house buyers are not influenced.

The bench said that it is a crucial issue, and in October 2021, the court implied that there was a requirement for a model builder-buyer agreement. Justice Chandrachud said that they are very keen on this. Instead of leaving it to all the individual states, they want the government to develop a uniform builder-buyer agreement, which shall be applicable in all the States.

Image Source

On Monday, the Supreme Court once again highlighted the requirement for a model builder-buyer agreement to protect the interest of middle-class house buyers and requested the Centre to view preparing uniform rules under the provisions of RERA. The top court told the media that it wants that instead of leaving it to the States, the government makes the model builder-buyer agreement and model agent-buyer agreement which shall be suitable for the whole nation. A bench of Justices DY Chandrachud and Surya Kant told the media that they are concerned about the broader public interest of the middle-class house buyers and requested Solicitor General Tushar Mehta, appearing for Centre, to ask for a considered opinion on the issue. Justice Chandrachud told the media that the whole purpose of the present PIL is that there must be a model builder-buyer agreement which will be prepared by the central advisory council so that there is some uniformity in the basic terms and conditions and the house buyers are not influenced. The bench said that it is a crucial issue, and in October 2021, the court implied that there was a requirement for a model builder-buyer agreement. Justice Chandrachud said that they are very keen on this. Instead of leaving it to all the individual states, they want the government to develop a uniform builder-buyer agreement, which shall be applicable in all the States. Image Source

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code