Gujarat RERA Rules in Favor of Godrej Properties as Promoter of Green Glades Project
Gujarat RERA authority holds Godrej Properties as promoter of Green Glades project, dismissing homebuyer's complaint.
ReraGujarat ReraGodrej PropertiesReal Estate RegulationGreen Glades ProjectReal Estate NewsJul 13, 2024
The homebuyer had booked a flat in the Green Glades project, a joint venture between the builder and Godrej Properties Ltd. While the builder was responsible for development, Godrej handled marketing, advertising, and sales. The homebuyer argued that Godrej Properties' role was limited to marketing and sales, and therefore, they cannot be held liable as a promoter.
However, the RERA authority referred to the Explanation Clause of Section 2(zk) of the Real Estate Regulation and Development Act, 2016, which states that both the person who constructs or converts a building and the person who sells apartments or plots shall be deemed to be promoters and shall be jointly liable.
The authority observed that Godrej Properties was acting through a Development Agreement with the builder and that the terms of the agreement executed with the homebuyer were clear. Moreover, the authority noted that construction in the project was complete, and 752 out of the 762 flats had been booked. If the project was deregistered at this stage, other homebuyers would suffer significant losses.
In light of these findings, the authority dismissed the complaint, ruling that Godrej Properties was indeed a promoter of the Green Glades project. This decision sets an important precedent for joint venture projects in the real estate sector.
Information
Godrej Properties Ltd. is a leading real estate developer in India, with a strong presence in Ahmedabad. The company has developed several residential and commercial projects across the country.
Gujarat RERA is a statutory authority established under the Real Estate Regulation and Development Act, 2016, to regulate the real estate sector in Gujarat. The authority is responsible for ensuring that builders and developers comply with the provisions of the Act and protecting the interests of homebuyers.
Frequently Asked Questions
What is the Green Glades project?
The Green Glades project is a residential project located in Godrej Green City, Ahmedabad, developed by a joint venture between the builder and Godrej Properties Ltd.
What is the role of Godrej Properties in the Green Glades project?
Godrej Properties is responsible for marketing, advertising, and sales of the project, while the builder is responsible for development.
What is Section 2(zk) of the RERA, 2016?
Section 2(zk) of the RERA, 2016 defines a promoter as a person who constructs or converts a building into apartments or develops a plot for sale and the person who sells apartments or plots, and both shall be deemed to be promoters and shall be jointly liable.
Why did the homebuyer file a complaint against Godrej Properties?
The homebuyer filed a complaint against Godrej Properties, claiming that they cannot be considered a promoter under Section 2(zk) of the RERA, 2016.
What was the outcome of the complaint filed by the homebuyer?
The Gujarat RERA authority dismissed the complaint, ruling that Godrej Properties is indeed a promoter of the Green Glades project.
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