'Concerned About Middle-Class Home Buyers' : Supreme Court Urges Centre To Consider Framing Model Builder-Buyer Agreement
3 years, 2 months ago

'Concerned About Middle-Class Home Buyers' : Supreme Court Urges Centre To Consider Framing Model Builder-Buyer Agreement

Live Law  

Noting that it concerns the "broader public interest of middle-class home-buyers", the Supreme Court on Monday requested Solicitor General Tushar Mehta a to seek the considered view of the Union Government of the need to formulate a model builder-buyer and agent-buyer agreement at the central level. While issuing notice on the petitions in October last year, the Court had noted that section 41 of RERA provides for the establishment of a Central Advisory Council by the Central Government, and that Section 42 provides for the functions of the said Council, one of which is to advice and recommend to the central government on implementation of the Act; major questions of policy; protection of consumer interest; and growth and development of real estate; any other matter. "The Act has sufficient enabling powers for the central government to frame the model agreements to subserve the public interest in ensuring buyers are nor exploited by framing standard form agreement", the Court had then observed. If the union of India can consider whether the Central advisory committee can use its powers to formulate a model builder buyer agreement which can then form a national model.

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History of this topic

SC calls for uniformity in builder-buyer agreements to protect home buyers
8 months, 2 weeks ago

SC calls for uniformity in builder-buyer agreements to protect home buyers

Hindustan Times  

The Supreme Court on Monday highlighted the urgent need for uniformity in builder-buyer agreements across India, noting that property buyers are being defrauded by builders nationwide. In January 2022, the court underscored the need for a “national model builder-buyer agreement” to ensure that homebuyers are not subjected to arbitrary and whimsical clauses included by real estate developers. The bench noted …

Govt to set up panel to work on model builder-buyer agreement: Official
1 year, 11 months ago

Govt to set up panel to work on model builder-buyer agreement: Official

Live Mint  

The government has decided to set up a committee to work on a model buyer agreement to help streamline the homebuying process and protect consumers from potential abuses, among others, a top government official said on Tuesday. The committee that will draw members from judges, national and state consumer commissions, various consumer bodies, lawyers as well as from the Ministry …

Supreme Court Asks States To Submit Suggestions For Model Builder-Buyer Agreement With Mandatory RERA Clauses
2 years, 2 months ago

Supreme Court Asks States To Submit Suggestions For Model Builder-Buyer Agreement With Mandatory RERA Clauses

Live Law  

Supreme Court bench comprising Chief Justice DY Chandrachud and Justice PS Narasimha asked states to submit suggestions to the Union Ministry of Housing and Urban Affairs on the model builder-buyer agreement with the mandatory provisions of the Real Estate Act 2016. At the outset, amicus curiae Advocate Devashish Bharuka submitted that in terms of the last order, the court had …

Centre Proposes To Submit Model Builder-Buyer Agreement With Mandatory RERA Clauses Before Supreme Court
2 years, 5 months ago

Centre Proposes To Submit Model Builder-Buyer Agreement With Mandatory RERA Clauses Before Supreme Court

Live Law  

The Central Government has proposed to submit before the Supreme Court a model builder-buyer agreement with mandatory clauses which cannot be altered by the States or the Union Territories.Additional Solicitor General Aiswharya Bhati and amicus curiae Devashish Bharuka submitted before the Court that the model agreement will have Part A which will have core clauses with the mandatory. The Central …

Model Builder-Buyer Agreement: Supreme Court Asks Amicus & Centre To Provide A Roadmap
2 years, 7 months ago

Model Builder-Buyer Agreement: Supreme Court Asks Amicus & Centre To Provide A Roadmap

Live Law  

In a plea seeking direction to the Centre to frame model builder-buyer and agent-buyer agreements to ensure uniformity, the Supreme Court, on Friday, asked the Amicus Curiae and Additional Solicitor General, Ms. Aishwarya Bhati appearing on behalf of the Ministry of Housing and Urban Affairs, Govt. Amicus Curiae, Mr. Devashish Bharuka apprised the Bench that he has filed the status …

Robust Regulatory Mechanism & Draft Agreement Already Prescribed Under RERA: Centre Tells Supreme Court In Plea Seeking Model Builder Buyer Agreement
3 years, 3 months ago

Robust Regulatory Mechanism & Draft Agreement Already Prescribed Under RERA: Centre Tells Supreme Court In Plea Seeking Model Builder Buyer Agreement

Live Law  

Responding to a plea seeking a model builder buyer agreement, the Central Government has submitted before the Supreme Court that a robust regulatory mechanism and draft 'agreement for sale" has already been prescribed under the provisions of RERA.According to Centre, the mechanism prescribed under RERA seeks to balance the rights and interest. Responding to a plea seeking a model builder …

Plea In SC Seeks Directions For Formulation Of Model Builder-Buyer Agreement & Agent-Buyer Agreement To Protect Customers
4 years, 5 months ago

Plea In SC Seeks Directions For Formulation Of Model Builder-Buyer Agreement & Agent-Buyer Agreement To Protect Customers

Live Law  

A plea has been filed in the Supreme Court seeking direction to the Centre for formulation of a model Builder-Buyer agreement and Agent-Buyer Agreement in order to infuse transparency, fair play and reduce frauds.Filed on behalf of Advocate Ashwini Kumar Upadhyay the plea states that the model agreements shall restrain the builders, promoters and agents from indulging in arbitrary. A …

One Sided Clauses In Builder-Buyer Agreements Is An Unfair Trade Practice: SC [Read Judgment]
5 years, 11 months ago

One Sided Clauses In Builder-Buyer Agreements Is An Unfair Trade Practice: SC [Read Judgment]

Live Law  

The Supreme Court has held that the incorporation of one-sided clauses in a builder-buyer agreement constitutes an unfair trade practice as per Section 2 of the Consumer Protection Act, 1986. The bench was considering an appeal against National Consumer Commission order that held that the Clauses relied upon by the Builder to resist the refund claims made by the complainant …

Modi govt may clear ordinance to help home buyers stuck with incomplete projects
6 years, 11 months ago

Modi govt may clear ordinance to help home buyers stuck with incomplete projects

India Today  

The Union Cabinet on Wednesday may give its nod to an amendment to the Insolvency and Bankruptcy Code to provide relief to buyers who invested in housing projects that are still incomplete, and whose builders are facing bankruptcy, government sources said. The ordinance is aimed at clearing the conflicting provisions of the Bankruptcy Code and the Real Estate Act, which …

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