The much-awaited real estate regulatory authority (Rera) draft has been in public domain since Friday. The draft had been a long-standing demand of tens of thousands of homebuyers seeking regulatory action against developers for delay in possession of flats, apartments and plots.
The town and country planning department put the draft on its website seeking the feedback and suggestions of residents. The deadline for posting feedback will end on May 15. The state government is likely to issue a notification on the draft on June 1.
Dilbag Singh, former chief town planner (CTP), Haryana, who was appointed executive director of Rera, is the chief architect of the draft currently in public domain.
Speaking to HT, Singh said that the government ensured a balanced approach while making the Rera draft in the quest of unhindered growth in the state’s real estate sector.
“Over the last ten years or more, the delay in possession of flats or plots has emerged as a major concern. Thousands of homebuyers have suffered on account of such delays. The Rera will ensure that the developers behind all such projects that are unfinished or yet to begin despite money being taken from homebuyers are penalised by the government,” Singh said, adding the draft will go a long way in resolving issues surrounding the real estate sector.
The government will appoint a regulatory authority once the draft is notified. The body will be vested with the power to impose fines on builders and even send them to jail for violating the Rera guidelines.
The Real Estate (regulation and development) Act, 2016 was notified by the ministry of HUPA (ministry of housing and urban poverty alleviation) on May 1, 2016. States were required to notify RERA from May 1, 2017. So far, 13 states have notified the rule. All real estate projects and property agents are required to be registered with the regulatory authorities by July 31.
Col Prithvinath, chairman Gurgaon arbitration council and patron of real estate development council Haryana, said, “The draft is under consideration. We will comment on it after due examination. We laud the state government for bringing the draft in public domain in the larger interest of homebuyers.”
However, a large section of home and plot buyers have expressed dissatisfaction over the dilution of rules for pushing through with ongoing realty projects. The same, they said, is a violation of the norms laid down by the Centre.
“The Act by the central government clearly says all ongoing projects that have not obtained competition certificates from competent authorities, will be subject to Rera guidelines. However, the state government wants to give all ongoing realty projects, though much delayed, immunity from such regulations,” Gaurav Prakash, a homebuyer, said.