BrokersADDA
by on June 4, 2018
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There is no secret about the fact that the builders have been unhappy with the rules that RERA expects them to follow. They have continued to lobby for amendments in certain provisions of RERA. Their hopes were pinned on one-year completion of RERA when the government may provide some relief.
Unfortunately, the government has ruled out any changes in the existing provisions of RERA. During the first central advisory council meeting of RERA, the Union Housing and Urban Affairs Minister Hardeep Singh Puri specifically mentioned that the government did not see the need for any immediate change. However, it is still open to receive suggestions from respective stakeholders.
In one of his tweets, the Minister reaffirmed that RERA had been formulated to protect the interests of home buyers and clean up the construction sector which has been unregulated for years. So, the builders who have not delivered homes in spite of taking money from unsuspecting buyers may face the consequences.
The government has set June 30, 2018, as the deadline to establish permanent regulators, commence online portal and form tribunals as per RERA directives.
Clearly, the government expects builders to pull their socks up. However, at the same time, builders get all adequate support from their respective states to fulfil RERA norms. Between government and builders, the home buyers who are the end beneficiaries, should not suffer.
Posted in: Real Estate