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LATEST NEWS UPDATES | States, Union Terrotories dilute RERA to favour realtors -Dipak K Dash

States, Union Terrotories dilute RERA to favour realtors -Dipak K Dash

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published Published on May 1, 2017   modified Modified on May 1, 2017
-The Times of India

NEW DELHI: The Union housing ministry may claim that implementation of the real estate regulation law, popularly called RERA, will usher in a new era for home buyers, but the rules put forward by states have diluted many provisions, keeping most of ongoing projects outside the ambit of the law that would come into effect from Monday.

States such as Odisha and Bihar have notified rules that are completely in sync with the one notified by the Union housing and poverty alleviation ministry. In contrast, Haryana's draft rules, notified last week, have completely left out disclosures by builders on the sanctioned plan, layout and specifications at the time of booking with all subsequent changes till date.

"This omission will give legal colour to all unilateral changes done by builders and will give them an escape route to avoid paying compensation to home buyers," said Abhay Upadhyay, president of Fight for RERA, the nationwide home buyers' body, which campaigned for the law.

Similarly, in Maharashtra, a provision has been included to allow builders to take out or divest from a project after occupancy certificate has been issued. This means, the builder can pull out its entire investment before completion of common areas, facilities and amenities.

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The Times of India, 1 May, 2017, http://timesofindia.indiatimes.com/india/states-union-terrotories-dilute-rera-to-favour-realtors/articleshow/58451580.cms


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