‘Rera has bought paradigm shift in the construction sector in Pune’ says Gautam Chaterjee, chairperson Maha-Rera
The Rera act came in force in 2016. The act seeked to protect home-buyers and help boost the real estate industryUpdated: Dec 08, 2018 15:39 IST
A two day National level conference on defect free construction emerging technologies and materials of the Indian concrete institute (Pune Chapter) was organised on December 7 and 8 in the city, where Gautam Chatterjee, chairperson, Maharashtra real estate regulatory authority (Maha-Rera) said that the Rera act has bought a paradigm shift in the construction sector. The Rera act came in force in 2016. The act seeked to protect home-buyers and help boost the real estate industry.
He added, “The builders can build trust by uploading correct and reliable information about the projects on the Rera website, however the information has to be in a language which a lay man can understand. We are also making an effort to raise the standards of constructions thus benefiting the buyers. Also, the builders who will not abide to these pro buyer standards will be completely wiped out of the business”.
Excerpts from the speech
Law must be implemented in true spirit
"It has been two years since the Rera Act has come in force, and we have been consistently trying to get the developer community on board to ensure that the law is implemented in its true spirit. We have issued several circulars and rules to make both builders and buyers aware of their responsibilities under the legislation and will now leapfrog the process to bring credibility and transparency to the construction industry. Also, from the new financial year, we will take strict actions against those real estate developers in the state failing to meet the deadlines for construction and completion of projects or not honouring the commitments about quality of construction .”
Use Rera as a tool to build credibility
"For years the factor of trust deficit amongst the buyers has been a bane of the construction industry and now the time has come for the entire construction fraternity, the builders, architects and construction engineers to harness Rera as a tool to build credibility. There are certain mandatory disclosures which a builder has to make but he is not restricted from stating additional information in terms of features and specifications of the project to attract the buyer. In fact a developer or builder can use the Maha-Rera website as a medium to inform buyers about the projects at no cost."
First Published: Dec 08, 2018 15:38 IST