Allottee is mainly a person to whom a property has been allotted. It is important to have property papers of the allottee that helps prevent problems of ownership disputes over the years. The allottee is the property owner, mainly mentioned in legal documents concerning the property or land. So, the allottee should be made of the thing, and the papers should be transferred in their name in due time.
When buying a property, developer documents often include an allottee. It is mainly a person to which someone is allotted, mainly share or land. In relation to real estate, an allottee is a buyer who will be given property in their name. Depending on this, an allottee is made, and the person will get the alloted land. An allottee in real estate can check the map of any project from the authority of its concerned jurisdiction. From this, one should know about the sanctioned plan to get details of the allotteewho has been given land or property.
So, knowing the RERA practice would help a developer or a property allotteebe aware of the safety measures to be followed regarding the property. In case of disputes, the legal papers and the laws under the act will help the allottee win the ownership of the property on time.
As per Regulation and Development Act 2016 in real estate, an allottee is a person to whom property or apartment is given, either transferred or sold by the promoter. Any person living on rent on that property cannot be considered its allottee. The property bill specifies who is the real allottee of the property. It is also mentioned in the registration papers of the property, and the name of the allottee would be mentioned in the property papers. Therefore, it is important to have the allotment papers in place, and the allottee should be aware of it. It helps the person make further plans with property investment.
Under RERA, an allottee can get to know the following:
Right to information
An allottee should get information about the property plans that the concerned authority has sanctioned. Besides, the person should be aware of the construction schedule, property possession and equivalent details relating to the property. It should include custody of documents and the owner’s rights relating to the property that has been allotted to them.
