Advent of RERA to rein in unscrupulous agents
NOIDA/GREATER NOIDA: With the implementation of Real Estate Regulation and Development Act (RERA), the scope of property brokers or agencies operating in smaller pockets who did not hesitate to foist inferior or flawed properties onto their clients will be wiped out.
Only those real estate agents, who abide by the regulator's strictures, will be allowed to carry out business activities and practices.
Brokers play an important role in real estate transactions, but they have never been under the ambit of a regulatory authority. Smaller brokers have been playing an unrestricted role in the Indian residential real estate marketplace, many of whom thrived on misinforming or under-informing their customers.
Very often, one can find them exaggerating the facilities at a builder's projects to make lucrative profits. Such defects become evident only after the deal is done.
With RERA into force, real estate brokers will be made more accountable to the home seekers.
“Brokers in the unorganised space will also have to get a license after paying Rs 25,000 as registration fees or they will go out of the market. They will also submit all the documents related to their business and self, along with the ITR form to the regional office which will help the real estate broking business mature and the brokers will become more serious towards the buyers, said Mukesh Daksh, General Manager (Sales), Investor's Clinic.
Daksh added that with the advent of RERA, “homebuyers who use the services of real estate agents and agencies will be protected and will have access to quick legal redressal in case of faulty business practices.”
The agents and agencies will have to ensure that they are duly registered with the regulator. By registering themselves, they effectively declare themselves accountable for their business activities and practices. As service providers to customers, they are answerable to all the questions and queries related to deliverables, committed by the developer.
Brokers who till now were churning profits, based on the ignorance or unwitting trust bestowed by clients into the agent, will now be eradicated from the marketplace. Only those agents who work in good faith will be allowed to carry out their activities in the market. GURUGRAM: Hundreds of parents whose children are studying in Delhi Public School Ghaziabad (DPSG), Palam Vihar, on Monday heaved a euphoric sigh of relief after the city district administration directed the private school to not increase its school fees.
The parents were protesting for more than two months over the hefty fees by the school management. They also protested at Delhi's Jantar Mantar over 400 percent hike.
In mentioning that, fee hike must only be initiated in consultation with parents, the Divisional Commissioner told the DPSG management that the hike was unjustified as they were not transparent in their accounts.
The school management was told that they can increase the school fees by 10 percent per annum.
However, the Divisional Commissioner stated categorically that even for the 10 percent hike, school management must build consensus with the parents.
He also asked the school management to submit the Form-6 so that the public officials can scrutinise the expenses and cost incurred by the schoo in providing requisite facilities to the students.
Last week, the Sub Divisional Magistrate summoned the DPSG management after its officials failed to attend the meeting over the issue of fee reduction.
Most of the parents in Gurugram have formed associations to agitate against 40 private schools in the city over hefty fee hikes.
The parents have alleged that unchecked corruption and transparency by private schools in the city is resulting in the institutes flouting rules and looting parents by charging heavy fees every year. NEW DELHI: In line with Prime Minister Narendra Modi's vision of Swachh Bharat Abhiyaan, Meenakshi Lekhi, Member of Parliament on Monday Inaugurated library and toilets facilities for the kids of South Delhi Municipal Corporation (SDMC) schools at Tigri 2 and 3.
Expressing ecstasy over the move, Meenakshi Lekhi said, “It is indeed a great step towards hygiene and habit formation for kids. I am sure the students of the school will be extremely happy to be able to use toilets in the school.
Lekhi also emphasised the need for personal and societal hygiene for a healthy nation.
Jaishree Goyal, Corporate Social Responsibility head of Angelique International Limited said, “The toilets will stop the children from urinating and defecating in open spaces. It will provide privacy, especially to girls.
Angelique Foundation through its CSR initiative in association with Rotary Club and Delhi Garden City donated 60 toilets at SDMC schools. The foundation is also constructing houses for low-income farmers in rural villages.
Only those real estate agents, who abide by the regulator’s strictures, will be allowed to carry out business activities and also practices