Real estate bill 2011 brings in transparency to Pune citizens
The recent real estate regulation & development bill, 2011 drafted by the central government is now bearing fruits for the citizens of Pune. The bill has provisioned Pune Municipal Corporation to take action against developers and builders for incomplete work, for not providing no-objection certificate and occupancy certificate and also failing to provide basic amenities to property holders.
The bill aims at restoring confidence midst the general public by implementing transparency and accountability in real estate and housing transactions. Experts said that, around 70 percent of the complaints lodged by the property buyers are against the builders and developers for not keeping up the transparency in construction work.
To favor the property buyers, the Grahak Panchayat along with the builders association are trying to bring in more transparency and avoid future interpretations during a property deal. Also, panchayat advice the property buyers to have a thorough check of the property agreements before signing them.
Source: The Times of India
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