HRERA, the practice of selling property on the basis of the super area is misleading, controversial, and confusing. Generally, property sold on the basis of super area increases complexity and ultimately results in avoidable litigations.
CHANDIGARH: On Tuesday, the Haryana Real Estate Regulatory Authority issued rules and regulations for the sale of an apartment. According to this rule the sale of flat in any real estate project will be based solely on carpet area only. The Gurugram-based regulator warned that a criminal case can be initiated against a builder or real estate agent who violated these instructions.
Sales on Super Area will be an illegal offence now!
K.K. Khandelwal, HRERA Chairman said, sales on the super area considered by the developer are fraudulent and unfair business practices. Conveyance deeds should be prepared only on the basis of carpet area. The sale of an apartment or a house takes place solely on the basis of carpet area. So it is illegal to sell property on the basis of super areas or any other basis.
Properties in residential projects are not correctly described with reference to the super area without specific details and the components included in the super area. The practice of selling property on the basis of the super area is misleading, controversial, and confusing. Generally, property sold on the basis of super area increases complexity and ultimately results into in-avoidable litigation’s.
This regulation is drawn up by the authorities to ensure the sale of land, apartment, or the sale of residential and commercial real estate projects in an efficient and transparent manner. Also, this will protect the interests and improve the confidence of buyers in real estate.
Considering that before the Real Estate (Regulation and Development) Act 2016 came into action, there was no legal description of the term “carpet”. Now the HRERA law provides a specific definition of the carpet area, which now removes the uncertainty and confusion in this regard.
Also read:-
6,000 flats in Jaypee Wish Town to be delivered by next year