Adnan Siddiqui on Supreme Court’s Ruling Against One-Sided Builder-Buyer Agreements

In a recent ruling, the Supreme Court has reinforced the principles of fairness, equity, and reasonableness in real estate contracts by declaring that one-sided builder-buyer agreements favouring developers are unenforceable in law.

Adnan Siddiqui, emphasized the legal significance of this decision, stating, “This judgment reinforces the rules of fairness, equity, and reasonableness in contractual obligations, which is in line with the Indian Contract Act, 1872, and the Real Estate (Regulation and Development) Act, 2016 (RERA). The ruling hence strengthens the legal stance of home buyers and sets a precedent that the courts will strike down any unfair contractual term.”

This decision strengthens homebuyers’ rights and ensures accountability in the real estate sector, setting a clear precedent against unfair contractual practices. The ruling aligns with RERA’s objective of promoting transparency and protecting consumer interests.

Read more: https://www.hindustantimes.com/real-estate/can-homebuyers-get-a-refund-of-the-flat-booking-amount-after-cancelling-it-101738834999554.html