Governor Ch Vidyasagar Rao on Saturday asked builders to give priority to homebuyers and observe deadlines for possession of homes carefully in his speech at the Golden Pillar awards organised by Maharashtra Chambers of Housing Industry (MCHI) on Saturday. He also advised them to blacklist the ‘black sheep’ among them who damage the reputation of the industry.
Rao, urged builders to keep consumer interest at the core of their business. “The buyer has invested his entire life savings for buying the house. Builders should give confidence to the customer.”
“Timelines should be observed scrupulously,” added Rao. He said associations such as MCHI need to blacklist the black sheep among the builders who tend to sully the image of the realty sector.
In the last one year, the realty sector has been one of end-user market, especially with low sales and the exit of investors. Builders have cut down prices and even introduced sops to induce buyers. In addition, Maharashtra Real Estate Regulatory Authority (MahaRera) has made it mandatory to disclose project details and also specify deadlines for giving possession of the apartments
Rao outlined that with foreign direct investment (FDI) coming to the real estate sector in a big way, quality, excellence and affordability should be the main aim.
{{/usCountry}}Rao outlined that with foreign direct investment (FDI) coming to the real estate sector in a big way, quality, excellence and affordability should be the main aim.
{{/usCountry}}Builders also agreed with the assertion. “It’s a buyers market and if someone does not cater to customers, he cannot sustain,” said Dhaval Ajmera, director, Ajmera Realty and Infra India Limited.
Similarly Amit Wadhwani, head, business development, Sai Consultants , said builders just need to cut down prices to drive sales. “This will be a boon for homebuyers, said Wadhwani.