I booked a flat in Kannur but the builder abandoned the project midway, what are my remedies under RERA?

Detailed Legal Analysis

If a builder abandons a project midway in Kannur, you have several remedies under the Real Estate (Regulation and Development) Act, 2016 (RERA).

RERA was enacted to protect the interests of homebuyers and promote transparency in the real estate sector. Here are the steps and remedies available to you:

• File a Complaint with the RERA Authority: You can file a complaint against the builder with the relevant State RERA authority. In Kerala, it is the Kerala Real Estate Regulatory Authority. Ensure that you have the necessary documentation such as the sale agreement, payment receipts, and any communication with the builder.
• Seek a Refund: Under Section 18 of RERA, if the builder fails to complete the project within the stipulated time or abandons it, you can demand a full refund of the amount paid along with interest. The interest rate is usually 2% above the prevailing State Bank of India’s Marginal Cost of Lending Rate.
• Claim Compensation: You can also claim compensation for any loss caused due to the builder’s abandonment of the project. According to Section 18(1)(b), the buyer is entitled to compensation for any delay or abandonment.
• Request for Possession: If the builder is unable to complete the project, you may also request a transfer of the property to another builder or seek possession of the unit if it is partially completed.
• Engage Legal Counsel: Consulting with a lawyer who specializes in real estate can help you understand your rights better and assist in drafting the complaint or pursuing further legal action if necessary.
• Approach the Consumer Forum: If the RERA complaint does not provide a satisfactory resolution, you can approach the District Consumer Disputes Redressal Forum under the Consumer Protection Act, 2019, for additional remedies.

It is essential to keep all records of communication and transactions with the builder, as these will support your claims. The timely filing of complaints and claims is crucial, so be sure to act promptly to protect your rights as a homebuyer.