Transfer Of Projects

The RERA Act, 2016 has certain provisions which clearly shows the evident intent to leash the malicious activities of the Builder. Amongst all such provisions, there is one provision related to the transfer of the Real Estate project to the third party.

As per the RERA laws, the promoter shall not transfer the project to the third party without obtaining the prior written consent from two-third of the allottees and prior written approval from the concerned RERA Authority. However, such transfer of the project shall not effect affect the sale or allotment made to the home-buyers by the builder erstwhile.