Now a days several real estate developer companies are coming up with their various residential projects in Noida and other parts of NCR. They extensively advertise their projects by various modes, distribute brouchers containing specifications, location, layout, price, payment plan etc. with the representation that the possession of the flat will be handed over within a period of 2.5 to 3 years from the date of the booking. Thereafter, they take booking amount from the Applicants and provisionally register a Flat with Number and floor in their project without showing any documents in respect of their proposed project viz; Land Title Deeds, License from the Competent Authority to undertake project, Zoning/Building Plan, Site map etc.
My question with respect to the above practice are as under:-
1) Whether the real estate developer companies are legally allowed to take booking as such without showing any relevant documents concerning their projects?
2) Whether they can ask for further payment after taking booking amount without taking license and getting the zoning and building plans sanctioned/approved from the Competent Authority? (It is represented by the Broker of the company that the second installment will be called only after sanction of the project)
3) Whether the company can allot Flat No. and Floor in an unsanctioned project?
4) When can the company legally allot a flat to the Applicant and execute an Agreement with them?
5) Whether the Builder Buyer Agreement executed by the Company are legally enforceable document? When can they be asked for registration of Sale Deed?
6) 6)If the Company does not commence construction and ask for further payment without getting the project sanctioned and building plan approved from the Competent Authority or otherwise does not abide by its representations then what is the remedy available to the Applicant?
7) How can the Applicant get the refund of amount paid by them in such case?
