Committee formed to safeguard the interest of Home Buyers

safeguard-the-interest-of-home-buyers

Supplementary to complaint redressal system for homebuyers, a 30 member Central Committee has been established to safeguard the rights of homebuyers under the Real Estate Regulation and Development Act (RERA).

The States have been asked to create a central database of all registered projects. This is somehow is going a matter of contention as some States have diluted the RERA Rules and some yet to pick the RERA Compliance.

Though the RERA Act was introduced to harbour growth, development and investment in the real estate sector, it is crucial to implement the law so that it safeguards the rights of homebuyers.

The Committee will be headed by the Housing and Urban Affairs minister. The Council has a dozen Central and State government secretaries, representatives from homebuyers association, civil society and real estate research organizations.

Since the law has to be implemented by the State governments 5 top secretaries from States including Delhi, Uttar Pradesh, Haryana, Odisha and Tamil Nadu have been included. Chairpersons of regulatory authorities from 5 other States are also members of the Committee.

 

Note – Please note that the above article is for education purpose only. This is based on our interpretation of laws which may differ person to person. Readers are expected to verify the facts and laws.

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