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RERA Has Not Helped Clients On Stagnant Projects Even After 5 Years, Home Buyers Organization | India News

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NEW DELHI: The real estate regulation law, RERA, has failed to meet the expectations of dozens of homebuyers whose investments were stuck in ongoing projects when the law was enacted, said the homebuyer organization that spearheaded the campaign. promulgation of the law.
The RERA enacted five years ago covered both new projects and all others that were under construction, also known as “ongoing” projects. The Chairman of the Forum for People’s Collective Efforts (FPCE), Abhay Upadhyay, said: “Not even 10% of the ongoing projects that were covered by the law have been completed even after five years of implementation of the law. The RERA aimed to provide aid to those whose money was stuck on ongoing projects. ”
FPCE, a group of home buyers recently won a case against the West Bengal government that had notified its real estate law, HIRA, in contravention of the Central Law. The Supreme Court has called the West Bengal law unconstitutional.
“The government should also publish a whitepaper on how many projects launched after the creation of RERA have been completed within the established timeframe. What is the average lead time for completion of such projects? Getting an extension for the completion of the project is not a builders’ birthright, ”Upadhyay said while addressing a virtual conference on RERA’s five years.
He also raised questions about RERA authorities playing with new ideas, which are outside the legal framework of the law, instead of focusing on providing relief to home buyers. Upadhyay said: “This is good progress in terms of registering 65,000 projects and eliminating 64,000 cases. But now more needs to be done to bring relief to home buyers, which is enshrined in the law, ”Upadhyay said.
It alleged that government authorities get “original ideas” when it comes to providing relief or comfort to builders. The organization said they had opposed a move by the Housing Ministry last year to extend deadlines for ongoing projects due to Covid.



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