Although the draft for the much-awaited Real Estate Regulatory Act 2016 has been brought into the public domain by the Haryana government and is likely to be implemented by June 1, a large number of real estate buyers have expressed apprehension that the draft rules notified on Friday are only likely to safeguard the interest of homebuyers who invest in new realty projects and not ones who invested in the existing ones.
The buyers apprehend that the draft rules proposed by the town and country planning department, which were uploaded on its website on Friday, exclude realty projects for which the builders have applied for occupancy certificates or part completion certificates.
Though the day, the homebuyers who have invested in existing projects, vented their frustration on social media and demanded that the BJP government should deliver in full what it had promised before elections. “Even if occupation certificate is taken in phases, most of the existing projects in Gurgaon do not have the necessary amenities and infrastructure and these should be included under the proposed Act. The fire safety system and other facilities need to be developed in an integrated manner,” Sanjay Sharma, a real estate consultant, said.
The town and country planning officials however allayed the fears claiming that even if 200 out 500 flats is occupied, the Rera guidelines would be applicable on the remaining 300 flats. A top official involved with implementation of the Act said that interests of all stakeholders will be safeguarded and law will be enforced after incorporating all the feedback from residents.
The buyers, however, remained unconvinced. They claimed that as per draft rules, the projects for which the builders have applied for occupancy or part completion certificates, will not come within the ambit of the Rera regulations, if the certificates are issued by the authority in three months. There are hundreds of real estate projects along the proposed Dwarka expressway, Sohna road, SPR, and Golf Course extension Road in Gurgaon that are delayed or facing charges of possession delay.
Nitin Jain, a real estate buyer, said that the word ‘project’ has not been clearly defined in the draft rules. Secondly, Jain also wants the government to ensure that all unfinished projects are brought within the ambit of the Rera regulations.
A section of homebuyers even accused the BJP government of favouring the developers. “Stop dilution of clause that only allows inclusion of new realty projects under Rera. The only criteria should be the provision of completion certificates,” Prakash posted on Twitter.
Dilbag Singh, former chief town planner (CTP), Haryana, who was appointed executive director of Rera said that the draft rules take every concern of the homebuyers into account and ensures that the stakeholders either deliver on promises or face action.