DDA selling you a shabby home? Call watchdog for redressal
If you are among those who felt cheated after getting possession of your brand new DDA flat as quality of construction did not live up to what was promised by the developer, here is a piece of news that will cheer you up.delhi Updated: Jun 06, 2013 01:35 IST
If you are among those who felt cheated after getting possession of your brand new DDA flat as quality of construction did not live up to what was promised by the developer, here is a piece of news that will cheer you up.
The definition of "promoter" in the Real Estate Regulatory Authority Bill (approved by the cabinet on Tuesday and pending clearance by Parliament) will encompass both private players and government housing agencies like DDA, National Building Construction Corporation and Housing and Urban Development Corporation.
Both private and government agencies will now have to register their projects with the regulator before launching a scheme so that buyers can complain against developers like DDA for failing to deliver what it had promised while selling the flat.
"They will have to abide by the agreement that they entered into with the buyer. Any deviation from the agreement would be tantamount to violation and invite penal punishment," said Ajay Maken, Housing & Urban Poverty Alleviation minister.
The bill also aims to curb money laundering and check inflow of black money. “Not only developers even real estate agents have to get themselves registered with the regulator. They will have to submit account records to the regulator which will help in trailing the money flow,” said Maken.
First Published: Jun 06, 2013 01:29 IST