In protest against builders under the Real Estate Regulatory Authority (RERA) consumers established their own forum “Fight for RERA” comprising of homebuyers. The forum touts the RERA Authority not to grant stretch to builders who have already delayed their projects.

The forum feels that any further stretch will violate the said RERA Rules. It was observed that more than 50% of the 14,000 ongoing projects, registered with Maharashtra RERA (MahaRERA) were delayed. In such case, the allottees of such delayed projects are given interest at RERA rates for each month till possession, or a refund under section 18 of the Act.

The forum is planning to submit a presentation to MahaRERA that to recommend that the rules are not selectively implemented. As RERA was introduced to implement transparency in real estate sector, it must protect the interest of homebuyers.

Source: Times of India