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Transparency is focus of RERA says experts

Posted On June 4, 2017 at 4:34 am by / No Comments

RERA:

KOLHAPUR: RERA- The developers’ association had organised a workshop on Wednesday for builders and architects across the city. The workshop was a medium to guide them and get them familiar with the new Real Estate Regulatory Authority (RERA) act passed in the parliament, recently.

Over 100 developers and architects took part in the workshop. RERA

“Developers must follow transparency and avoid any kind of penalty or punishments prescribed in the new RERA act,” said an expert.

The new act will be implemented from May 1. Most of the developers raised concerns about the registration of there on-going projects. They raised concerns that law must not be applied to the plans approved under the previous law.

Concerns related to compulsion of the developers to use the funds from the buyers to complete one project at a time and the funds should not be diverted by the builder for another project was also addressed during the workshop.

A developer said, “The new law has made it mandatory for us to register every phase of the project as a new one and the same criteria will be applicable for the next phase. This will delay the completion of the project and will prove to be a set back for our industry.”

Another developer said, “The deadline for the on-going projects is insufficient. It takes a lot of time and energy to file the details online. Three months is insufficient for compilation and calculation of the project.”

Architects such as Manoj Tatoskar and Rajendra Sawant and developer Rajiv Parekh guided the developers present in the workshop. “While some of the provisions in the new act are totally alien to the developers, the rules are drafted considering the interest of the buyers,” another expert said. RERA

 The experts even mentioned that due to few developers indulgence in corrupt practices, the whole industry is suffering from a bad name.
During the workshop Tatoskar said, “The developers will not face any action if accurate details are provided to the authority from time to time. In the initial phase, the developers may face issues such as deciding the size of the flat. However, transparency has to increase the ensure the trust of the buyers.”
Credits: TNN | Updated: May 11, 2017, 09.01 AM IST

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