Home­buy­ers wait for reg­u­la­tory bill

Dis­ap­pointed by Par­lia­ment log­jam, buy­ers say their prob­lems need to be sorted out ur­gently

HT Estates - - FRONT PAGE - Jee­van Prakash Sharma

On De­cem­ber 9, 2015, when the cab­i­net com­mit­tee chaired by Prime Min­is­ter Naren­dra Modi ap­proved all the changes rec­om­mended by the se­lect com­mit­tee of the Ra­jya Sabha in the Real Es­tate ( Reg­u­la­tion and De­vel­op­ment) Bill, 2015, property own­ers had hoped it would be passed by the Ra­jya Sabha too. To learn that it wasn’t even listed in Ra­jya Sabha, when just a few days were left for the win­ter ses­sion to end, has left them ut­terly dis­ap­pointed.

With the rul­ing party locked in var­i­ous bat­tles with the op­po­si­tion, the wait for a reg­u­la­tor seems to be get­ting longer for lakhs of home­buy­ers in In­dia.

Ex­press­ing con­cern over the de­lay in en­act­ing a reg­u­la­tory author­ity, Lt Gen­eral (Retd) SK Bahri, chair­man of the core coun­cil of the fed­er­a­tion of apart­ment own­ers’ as­so­ci­a­tions and chief men­tor of Fight For RERA ( real es­tate reg­u­la­tory author­ity) a body formed to bat­tle for a real es­tate reg­u­la­tor, says, “It’s ex­tremely dis­ap­point­ing to see Par­lia­ment paral­ysed be­cause of which im­por­tant bills like RERA and GST haven’t been taken up for con­sid­er­a­tion. How­ever, what ap­palls me is that the gov­ern­ment hasn’t even listed the bill in the Ra­jya Sabha which makes it ob­vi­ous that it wouldn’t be taken up for de­bate in this ses­sion. I be­lieve the strong builder lobby is try­ing to stall it. It’s sad that some­thing which con­cerns lakhs of peo­ple hasn’t been taken se­ri­ously by par­lia­men­tar­i­ans.”

Bahri also felt that it was be­cause of the ef­forts of the mem­bers of Fight For RERA that the cab­i­net com­mit­tee had given a green sig­nal to the bill. Var­i­ous apart­ment own­ers’ as­so­ci­a­tions agreed with him, say­ing that though t here were dif f er­ences among var­i­ous RWAs over the bill, ev­ery­one wanted it to be­come a re­al­ity.

Prakash PVS, res­i­dent of a group hous­ing project in Noida, said suc­cess­ful roles played by reg­u­la­tory bod­ies in in­sur­ance, health­care, tele­com, power, etc make it ev­i­dent that a reg­u­la­tory author­ity played a cru­cial role in pro­tect­ing the in­ter­ests of con­sumers, pro­mot­ing fair play in the sec­tor, en­sur­ing timely de­liv­ery of promised ser­vices, sig­nif­i­cantly re­duc­ing frauds and help­ing in the speedy ad­ju­di­ca­tion of dis­putes. The key to suc­cess was im­ple­men­ta­tion and en­force­ment of all pro­vi­sions of the bill in a trans­par­ent way for which proper con­sumer aware­ness had to be gen­er­ated.”

Prakash, who is part of a group fight­ing a le­gal bat­tle

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