Frequently Asked Questions (FAQs)
A: It is crucial to verify the seller’s ownership rights, check for any existing claims, mortgages, liens, or legal disputes associated with the property, and ensure compliance with land laws to avoid future ownership challenges and litigation.
A: The Real Estate (Regulation and Development) Act, 2016 (RERA) aims to bring transparency and accountability to the real estate sector. It mandates registration of projects and agents, requires standardized sale agreements, protects buyers against project delays, and establishes adjudicating authorities for dispute resolution.
A: A JDA is an agreement between a landowner and a developer where the landowner contributes the land, and the developer undertakes the responsibility of obtaining approvals, construction, and marketing of the project. The consideration is often a share of the built-up area or revenue.
A: A lease typically transfers an interest in the property for a specific period, granting the lessee exclusive possession. A license is merely a personal permission to use the property for a specific purpose without transferring an interest or exclusive possession. The distinction has legal implications regarding rights and eviction.
A: Common issues include delays in land acquisition, obtaining environmental and other statutory clearances, financing challenges, disputes over contract terms (especially in EPC and concession agreements), and regulatory hurdles.
