Bringing Discipline in Real Estate Sector was one of the Core Objectives Legislation: Puri

By Accommodation Times Bureau

PUNE

The Housing Minister, Hardeep Singh Puri on September 10 said that the government at the centre is committed to provide positive solution to the problems of home buyers so that they get their home as soon as possible.

He was delivering the inaugural address at the “First Regional Workshop on RERA – a New Era of Transparency and Accountability in Real Estate – 2 years of implementation and way forward (Western Region)” in Pune. During his address, the Minister pointed out that the country had no regulator for the real estate sector for nearly 70 years after it gained independence, and said that the year 2016 will reveal that year to be a seminal one as that was the year when the Real Estate (Regulation and Development) Act, 2016 was enacted by the Government under the leadership of Narendra Modi as Prime Minister. Various stakeholders associated with the Real Estate Sector i.e. Developers, Home Buyers, Financial Institutions along with the Chairpersons and senior officers of Authorities, Tribunals and State Government officials from the western part of India attended the workshop.

Addressing the participants, the minister stated that the year 2016 changed the real estate sector forever and defined the dawn of the post RERA era. RERA is characterized by trust, rules, regulations and regulatory oversight as opposed to the pre-2016 period which essentially was one of mistrust, fraud, cheating and broken promises, he said and asserted that “the plight of the homebuyers who were at the mercy of the developers and bringing discipline in the Real Estate Sector was one of the core objectives of this landmark legislation”.





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