Aam janta’s charter of demands
An average homebuyer has huge expectations from the new government. People have, for long, been demanding a ‘regulator’ for the real estate sector — for both the residential and commercial sectors or separate, because the investors and end-users are often harassed by unscrupulous developers even after the passage of the state apartment acts. The delay in the passage of the regulator bill has left the general public disillusioned.
People also expect the government to bring in a uniform public policy in all states to govern the housing sector so that urbanisation schemes, as envisaged in the recent fiveyear plans, can be uniformly implemented in the entire country although they know that housing is a state subject.
It is expected that the government will come out with policies that help rationalise the interest rates for home loans, because there is a growing feeling that interest benefits are only offered to new home loans takers. This has led to existing customers feeling that they are being made to compensate for new home loan takers.
People also demand a clear policy on bankers’ responsibility to do due diligence before approving a housing project and releasing funds to developers.
Since the group housing phenomenon is now quite old in this country, homebuyers expect the government to make policies to ensure timely and proper maintenance or redevelopment of old buildings in line with the master plans.
The wishlist from the aam janta is big but, some intervention in this sector will go a long way in restoring the homebuyers’ confidence.
Delay in delivery of flats is a serious concern for homebuyers