Real Estate Regulatory Authority (RERA) regulations have been instrumental in bringing transparency and accountability to the Indian real estate sector. One common concern among property buyers revolves around the possession date, a crucial milestone in any real estate transaction. This comprehensive guide delves into the question: Can a builder change the possession date in RERA? We’ll navigate through the regulations, implications, and offer insights for buyers.

Understanding the Possession Date

The possession date is the date specified in the sale agreement when the builder is obligated to hand over the property to the buyer. It’s a critical aspect of the agreement that sets expectations and timelines for both parties.

1. RERA’s Commitment to Timely Possession

RERA was introduced to protect the interests of homebuyers and ensure timely possession of properties. It encourages transparency and requires developers to register their projects, providing details including possession timelines.

2. Can the Possession Date Be Changed?

While the possession date is a crucial commitment, unforeseen circumstances can sometimes lead to changes. However, builders cannot unilaterally change the possession date without adhering to the regulations and the agreement.

3. Process for Changing Possession Date

If a builder needs to change the possession date, they must follow specific steps:

a. Prior Consent: Builders must obtain the prior consent of at least two-thirds of the allottees (buyers) before changing the possession date.

b. Written Notice: A written notice, along with the reasons for the change, must be sent to the allottees.

c. Revised Date: The revised possession date proposed by the builder must be mutually agreed upon by the majority of the allottees.

d. Revised Agreement: If the revised date is accepted, a supplementary agreement reflecting the changes must be executed between the builder and the buyers.

Implications for Buyers

1. Informed Decision-Making: Buyers have the right to be informed about any proposed changes to the possession date. They can assess the reasons for the change and collectively decide whether to accept the revised timeline.
2. Project Delays: While changes in possession dates can be prompted by genuine reasons, buyers should be cautious of projects with frequent changes, as they could indicate project mismanagement.
3. Legal Recourse: If a builder changes the possession date without following the stipulated procedure or the agreement terms, buyers have the right to approach RERA for resolution.

Have you encountered a situation where a builder changed the possession date? Share your experiences and insights in the comments below. How did you navigate through the process? Your stories can provide valuable guidance to others facing similar situations.