WHAT IS THE HOME WARRANTY CLAUSE FOR HOME BUYERS UNDER RERA?

Moving into your new home is indeed a moment of pride. But this excitement is sure to fade quickly if your new purchase starts showing signs of defects soon after you move in. This may happen owing to poor and negligent construction, for instance. However, now with Real Estate Regulatory Authority (RERA) at your disposal, you don’t have to worry about such outcomes. This is because the home warranty clause prescribed by RERA covers such situations.

To put it simply, the Real Estate (Regulation and Development) Act has introduced a defect liability clause basis which the developer gets penalised for construction defects. Under Clause 14 (3) you can claim a defect liability cost from the developer for up to 5 years starting from the date of possession in case of defects.

What does the defect liability clause cover?

The defect liability clause covers and pays you for structural defects that show up in your flat or building within a few years of owning it. Low-quality raw material, a flaw in the blueprint of the building or a shortcoming in the execution of the construction plan can trigger dampness and leakage in the property. Faults and errors like these can cause cracks in the foundation and the walls, possibly resulting in plumbing, electrical, and mechanical issues. Moreover, residing in a damaged flat affects the air quality of your home and will hamper your well-being.

Thanks to the home warranty clause of RERA, developers have now become more vigilant about every aspect of construction and do assess the work of their contractors or labourers periodically so as to keep such consequences at bay.

Making a claim as per the defect liability clause

As a homebuyer, if you find any defect in your home within 5 years of residing in it, you are entitled to bring it to your developer’s attention. Following your complaint, the developer is liable to fix or repair the defects in question within 30 days of you reporting the damage without demanding any further payment from you. If the developer fails to do so, he/she is liable to pay you monetary compensation as directed by the law.

With the defect liability clause by your side, you can expect quality construction when buying a new home. So, what better time than now to make your dream of owning a home come true? Search for your ideal home with top online real estate portals like Bajaj Housing Finance Limited to efficiently search for a home, get a high-value home loan sanction of up to Rs.3.5 crore, and enjoy an array of other services. For instance, you can also make use of the property dossier to keep yourself updated on the financial and legal aspects of buying a home, and get in-person assistance for site visits too.

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