RERA Rules leave home buyers disappointed : The Tribune India

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RERA Rules leave home buyers disappointed

CHANDIGARH: Home buyers in Gurugram and other big towns of the state are disappointed with the Haryana Real Estate (Regulation and Development) Authority (RERA) Rules approved by the Cabinet yesterday even as the government claims that the final rules do not dilute the Central Act.

RERA Rules leave home buyers disappointed


Sushil Manav

Tribune News Service

Chandigarh, July 26

Home buyers in Gurugram and other big towns of the state are disappointed with the Haryana Real Estate (Regulation and Development) Authority (RERA) Rules approved by the Cabinet yesterday even as the government claims that the final rules do not dilute the Central Act.

Gaurav Prakash, a founder member of the Dwarka Expressway Welfare Association, Gurugram, alleges that the government has tried to favour the strong builders’ lobby in the RERA rules announced yesterday and has deviated too much from the Central rules.

“Central rules exclude only projects having a completion certificate from the category of ongoing projects, but the state government has replaced the requirement of a completion certificate with an occupation certificate. And for that too, it has not given any time limit if a developer applies for the completion certificate before July 30,” he says.

“Just apply for the occupation certificate before July 30 and you come out of RERA. Use delaying tactics in completion of formalities for the grant of occupation certificate and you can keep evading the provisions of law,” Prakash says sarcastically.

Sources in the Town and Country Planning Department, however, defend the Rules saying they take care of the interests of home buyers as well as builders, but not the interests of speculators.

“The Central Act does not clearly define the concept of ongoing projects, but it lays two important parameters that a project should be ongoing on a site and it must have procured the completion certificate. In Haryana, it is occupation certificate/ partial completion/completion certificate,” they add.

“Further, the occupation certificate in Haryana is equivalent to the completion certificate in other states. In Haryana, the completion certificate is given after all internal and external works and community sites have been developed. In other states, the completion certificate is given once more than 75 per cent of home buyers take possession,” the sources say.

They add the only problem is that the state RERA does not take care of the interests of speculators.

“Speculators put their money in projects for profit and will like to get refund of their money if the market is slow. Even if 10 per cent of speculators manage to get refund of their money due to RERA, it will affect the whole project and eventually home buyers. If we do not address the issue, we will be doing disservice to actual home buyers,” say the sources.

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