Real Estate Law: Cracking Down on Dodgy Developers

RameshNairBy Ramesh Nair, COO – Business & International Director, JLL India

Accommodation Times Bureau :

In recent times, the Indian real estate developer community has been in the news for all the wrong reasons. The good news is that the ‘black sheep’ of this family are being brought to book, simultaneously increasing the contrast between unscrupulous operators and transparent, honest builders who have hard-won reputations to protect. The fact that the law is coming down heavily on unreliable builders is very positive, as it prevents the entire community from getting maligned. Also, consumers now know that their grievances will be heard and acted upon.

 

In a significant ruling, a consumer disputes redressal forum has held a builder in Mumbai guilty of non-compliance of an order passed nine years ago. He has been sentenced to two years imprisonment. The forum chief found that the builder had failed to hand over the flat within the promised time, despite receiving the entire sum. Based on the buyer’s complaint of deficiency in service, the forum had directed the builder to hand over the flat with all the amenities, along with compensation for delay and litigation expenses, within two months. However, even after all these years, the buyer’s wait for possession did not end, leading to the imprisonment decision.





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