Another reason to cheers as the home buyers gets relief under the RERA Act. K K Khandelwal, the chairman of Haryana RERA said that the RERA Act is applicable to previous projects also irrespective of the completion date. This news come as a relief for the common man as landlords now get the right to file a complaint with the Real Estate Authority which will be taken into consideration at the earliest.
Now the RERA Authority is there to resolve any dispute related to the property inspite of the fact that the completion of a property had been achieved before May 1, 2017. On the basis of central rule, the RERA authority also has their set of guidelines. Hence, the law majorly covers issues related to a plot with a minimum size of 500 sq. mtr. and with projects that comprises of eight units at least.
Earlier at an event, K K Khandelwal said that digitization of property records should be made compulsory as it helps the property sector grow. The digitization of records will bring in more transparency and will make the Indian real estate sector organized. He also said that there should be a central record of realtors as it offers trustworthiness amongst the buyers.
Other than this, the Haryana Government is also working towards building affordable homes and three projects have been planned in Panchkula city. The officials have visited the site on which a total of 711 residential units will be built. The construction of these units will cost Rs.125 Crores to the Government as these homes are been constructed under the Pradhan Mantri Aawas Yojna [PMAY].