Submit :
News                      Photos                     Just In                     Debate Topic                     Latest News                    Articles                    Local News                    Blog Posts                     Pictures                    Reviews                    Recipes                    
  
Read all Latest News and Updates from Gurgaon
Now a regulatory body to monitor real estate in Gurgaon
To monitor and regulate real estate bodies in the state, especially Gurgaon, the Haryana government is planning to set up a Real Estate Regulatory Authority. They will also prevent unscrupulous realtors who exploit and target property buyers.

"The continuously increasing property prices have led to mushrooming of real estate agents who take part in illegal practices. This body will control these illegal practices,” Gurgaon Town Planner, Vijendra Singh told this citizen journalist .

The chief parliamentary secretary (town and country planning), Haryana Rao Dan Singh has said that the Hooda government is all set to bring a bill to set up the authority in the coming budget session which will commence on February 22.

"As yet, the property buyers, in case of any dispute with the builders, have to approach the civil courts. After constitution of the proposed authority, they would be able to complain against the builders with the new forum. Apart from giving early relief to them, the authority would also reduce the burden of courts," Dan Singh told The Times of India.

It has been decided that the regulatory authority will be headed by a chairman and another two members and authority will look into complaints pertaining to disputes related to sale and purchase of flats in housing societies and resolving such related issues.

With the emergence of many private builders and real estate agencies many disputes between buyers and builders also mushroomed like delay in possession, unfairly cancelling registration of flats to have more money and many such issues which we can see happening in new Gurgaon and Dwarka-Gurgaon Expressway houses.

It has been that developers and agents are taking undue advantage of increasing demand of real estate in Delhi NCR and even at the time when the price of properties came down in last year across the country, the prices in Delhi NCR kept on increasing.

"This is a trend and will continue here. We cannot do anything till the demand is increasing in Gurgaon." a real estate agent in New Gurgaon told this citizen journalist.

Provision has been made for imprisoning builders in case of violation of the sales agreement norms related to cost and timeline of the project, said a source, adding that the Union government has suggested up to a year's imprisonment or fine up to 5% of the total project cost for violations.

In Noida Extension also, because of small disputes and increase in the land prices, many builders cancelled registrations of early buyers. “I am very worried about my flat which I had booked in 2011 for which I also took a loan, but builder cancelled my flat saying I have not paid full amount of escalation charges. Only when I went to their office I came to know that they have cancelled my flat," Kulbhshan Jha, who booked a flat in Noida extension, told this citizen journalist.

This is just one example of injustice happening in real estate world where developers just do not bother about buyers. This regulatory body might help to mitigate the sufferings of buyers.

COMMENTS (0)
Guest
Name
Email Id
Verification Code
Email me on reply to my comment
Email me when other CJs comment on this article
}
Sign in to set your preference
Advertisement

Interesting content

merinews for RTI activists

Create email alerts

Total subscribers: 208536
Advertisement
Pro Kabaddi League
Pro Kabaddi League Schedule
Pro Kabaddi League Points Table
Not finding what you are looking for? Search here.