Mr. Ashok Mohanani, Chairman, EKTA World and Vice President, NAREDCO, Maharashtra on 3 Years of RERA.
“It
has been three years since the Central Government introduced the RERA
Act within every state of India to witness a revolution within the real
estate sector. The mandate of having a separate RERA for each state has
been an absolute game-changer for the government, buyers, and
developers. In the years gone by the regulatory body achieved milestones
by being able to protect the interests of home buyers and also boost
investments. RERA has importantly pushed to bring both developers and
home buyers on a common platform which was not the case before and it
has created a synergy between the two. Many started looking for a
harmonious answer and ultimately withdrew complaints as the act
endeavored to change homebuyer perception. With increased transparency
amongst the stakeholders, it has been successful to bring a sort of
confidence amongst the buyers. An additional benefit from the
implementation of the RERA Act is to positively convert potential home
buyers to permanent buyers. RERA has made significant progress in
four-five states, however, it still has scope to address homebuyers’
concerns in few others. While many states are still seeking to have a
website, some of the existing websites are of little help to home
buyers. With the recent announcement of a deadline extension for a
tenure of three months basis on the completion of the projects have
acted as a relief measure to the housing sector. All in all, it has
successfully become the face of fair practices for real estate
fraternity.”
No comments:
Post a Comment