Apartment buyers often suffers due to lack of Regulations
As there is no regulator in the real estate industry, the home buyers suffers a lot by the delay in project. Often builders refuses to listen to the buyers for the delay in Projects in India.
To overcome the scenario, a regulatory bill is essential to enhance transparency in the real estate industry and promote good practices and professionalism among developers.
It should be made mandatory to furnish few information to the buyers as drawn to-scale location plan and site plan of the project, unit floor plan and a breakdown of a unit’s floor area by the various spaces like bedrooms, balconies and bay windows.
The buyers of apartments are often complaining regarding the mis- behavior of the builders. There are also instances where poor quality of the construction has created hazards for the home buyers.
Right now it is important to protect the rights of the consumers while also ensuring that the developers are not harassed by too much of red tape.
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PE investments in Indian real estate has dropped
Source: Economic Times
Apartments in India, Delay in projects, home buyers, projects in India, Properties in India, Real estate in India, Real Estate regulatory bill, Transparency in real estate
