gfiles magazine

July 10, 2017

RERA: An Elixir for Real Estate Sector


ON December 8, 2014, home buyers in the NCR (National Capital Region) staged a massive rally at Jantar Mantar, New Delhi against majority of builders operating in the NCR region. Since then there have been multiple protests, petitions and pleas against the realtors or home builders. The main concerns raised by the home buyers while protesting or filing petition are delay in possession, quality of construction, huge difference between promised infrastructure and delivered, diversion of funds to other projects and many more. In addition, the administration also realised that the real estate sector was abuzz with fraudulent builders, promoters who did not have land an were fleecing buyers with pre-launch offers and many more.

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