Ongoing Realestate projects delayed by greedy builders should come under the ambit of RERA
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Ongoing projects also should be registered under Real-State
Regulatory Act(RERA) to save the suffering buyers from the hands of
the Greedy Builders
An ongoing project is basically a project “for which the completion certificate has not been issued as on May 1, 2016” on the date of commencement of the act. The original central act basically ensured that many home projects which are work-in-process come under the act. However many states have diluted the clauses in favour of Builders. In Uttar Pradesh, the previous government made four major ‘exclusion’ clauses to keep a majority of projects out of RERA thus helping the builders and developers.
The 4 major modifications changed the definition of Ongoing project altogether. With 4 changes, the definition of ongoing project now means a project where the completion certificate has not been issued but excludes projects where:
a)all Development work is complete and application for completion certificate has been filed with the competent authority for issue of completion certificate.
b)The services have been handed over to the local authority for maintenance.
c) where common areas and facilities have been handed over to the residents’ welfare association for maintenance.
d) Where all development work is complete and sale/lease deeds of 60% of the apartments/plots have been executed.
These rules have been misused badly. So we request Housing Minister Sir and
to speak to respective state governments to correct the mistakes and to implement the central RERA Act in letter and spirit all over India.
There is a huge number of Allottees(Buyers) from across the country, suffering at the hands of the Greedy Builders. Projects have been delayed by even more than 10 years or more for no fault of buyers. Buyers have taken loans, sold their ancestral properties, invested their savings in buying their dream houses. But Defaulter builders have siphoned off the money to buy properties abroad, across India, built hundreds of luxurious homes for themselves. Builders are living life of Kings, and we the common men are left at the mercy of God to suffer each passing day. A buyer is not buying his dream house for "X" amount of money that he paid to builder. Rather he is spending huge amount of "Y" money also in terms of following up with builder, in terms of loss of health, peace and mental satisfaction, in spending money in filing cases at different forums, in terms of huge amount of time wasted that could have been spent in other productive activities for the development of the country.
Every day is a living hell for suffering Buyer. When the time has come now that all the defaulters be punished and forced to complete their projects under RERA, the builder community wants greedy, criminal builders to be left out of the ambit of RERA. This is not acceptable to lakhs and lakhs of Buyers across the country.
We appeal to Respected Sir to not succumb to the pressure of Builder Lobby.
(Suffering at the hands of Greedy Builder - Parsvnath Developers Limited)
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