RERA has completely failed in its responsibility to ensure transparency and free the sector from malpractices. They have been misguided by builders so that their focus is diverted from important issues. HBs being taken for ride.
As per RERA, Regulator's function is merely to encourage grading/rating of R E projects. But very strangely, #MahaRERA wants to do the grading itself. @abhaykol explains the repercussion of such move beside setting wrong example.
@vinodkumarmenon@mid_day@msshankar1961
Real Estate (Regulation and Development) Act 2016
#RERA would have contributed much more but because of the nexus of Regulators with builders restricted it’s benefit.
The @MoHUA_India & @RailMinIndia signed an MoU with Japan International Cooperation Agency for ‘Station Area Development along Mumbai-Ahmedabad High-Speed Rail’ (Project-SMART)
MoU was inked for 4 High-Speed Rail Stations- Sabarmati, Surat in Gujarat and Virar & Thane in Maharashtra
The fourth meeting of the Central Advisory Council constituted under #RERA will be held on May 09 (Tuesday) @ 2:30 PM under the chairmanship of Union Minister for @MoHUA_India & @PetroleumMin, Shri @HardeepSPuri.
Watch Live on:
https://t.co/fVpaRP92az
https://t.co/yYJx3oevmm
It's heartening and we are glad that @jagograhakjago Ministry understood our concern and took most of our critical inputs which we gave before the conference very seriously. We profusely would like to thank @rohitksingh Sir for the same.
@abhaykol@msshankar1961
This report doesn't indicate upto which year RC execution has been completed since there are HB whose RC execution is pending since years.
31.39% is certainly very disappointing and cannot be considered satisfactory.
Report card by @UPRERAofficial. As per this statement:
1) Out of 8600 RC, only 2700 received their money which comes to mere 31.39% in over six years
2) 2700 allottee received only 475 Cr i.e 17.50 lacs /head which indicates small amounts were recovered.
@ZeeBusiness@iam_deepaky
@FightForRERAInd@HardeepSPuri@Secretary_MoHUA@abhaykol@msshankar1961 @KailashBabarET Here we don't even get the dates of the case... Hard earned money is stuck while builders & developers enjoy their lifestyle and their families enjoy the best of world luxury because they know they can dupe people and they can easily escape Indian laws
@FightForRERAInd@HardeepSPuri@Secretary_MoHUA@msshankar1961 @KailashBabarET In the process they allowed builders to violate provisions of RERA by not updating since 2017.
Also those who relied on the project details uploaded on #MahaRERA website were mislead with half baked information.
I hope @MoHUA_India will take note & act tough.
Very sad indeed.
They shud hav reviewed this periodically rather than waiting for so long.
Now they have issued mass notices which they will not be able to handle 4 sure.
Is this deliberate leeway being given to builders?
@HardeepSPuri@Secretary_MoHUA@abhaykol@msshankar1961 @KailashBabarET