In a recent ruling, the Telangana State Real Estate Regulatory Authority ("TSRERA" or "Authority") bench consisting of Dr. N. Satyanarayana, IAS (Retd.) [Chairperson], Sri Laxmi Narayana Jannu.
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Supreme Court Directs Real Estate Developers Not to Restrict Homebuyers with One-sided Agreement By siliconindia | Tuesday, 12 January 2021, 14:00 Hrs
The Supreme Court on January 12 observed that a real estate developer cannot compel homebuyers to be bound by one-sided contractual terms contained in the Apartment Buyer s Agreement. The apex court held that incorporation of such unreasonable clauses in the agreement constitutes an unfair trade practice under the Consumer Protection Act.
The supreme court states, “The terms of the Apartment Buyer‘s Agreement are oppressive and wholly one-sided, and would constitute an unfair trade practice under the Consumer Protection Act, 1986. In view of the above, we hold that the developer cannot compel the apartment buyers to be bound by the one-sided contractual terms contained in the Apartment Buyer‘s Agreement.”
Incorporation Of One-sided And Unreasonable Clauses In Apartment Buyer s Agreement Constitutes An Unfair Trade Practice : Supreme Court livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.