Supreme Court Advocates Uniformity in Builder-Buyer Agreements to Prevent Fraud

The Supreme Court has highlighted the prevalence of fraud against homebuyers in India, stressing the need for standardized builder-buyer agreements. A bench led by Chief Justice DY Chandrachud is considering a PIL filed by lawyer Ashwini Upadhyay, advocating for model agreements to ensure transparency and fairness in real estate transactions.

The Supreme Court emphasized the widespread fraud faced by homebuyers in India, underscoring the need for standardized builder-buyer agreements. Chief Justice DY Chandrachud's bench, which includes Justice JB Pardiwala and Justice Manoj Misra, is reviewing a PIL filed by lawyer Ashwini Upadhyay, highlighting the necessity for model agreements to ensure fairness and transparency.

Senior advocate Devashish Bharuka, serving as amicus curiae, presented a final status report with draft builder-buyer agreements, incorporating suggestions from states.

The bench plans to review the report and the objections and has scheduled the next hearing for July 19, encouraging stakeholders to provide further input to the Union Ministry of Housing and Urban Affairs.

(With inputs from agencies.)