Viewpoint by Mr. Rohit Gera, Managing Director, Gera Developments Pvt. Ltd and VP, CREDAI - Pune Metro on Real Estate Bill being approved in both the Houses


"Protection of the real estate customer is an essential need today given the lack of legislation and low barriers to entry in the industry. While the regulation is necessary,  the pendulum has swung to the other extreme in terms of being punitive in many ways.

The industry currently passes off a large part of the  risks to the customers today.  With developers being forced to assume the risks customers will be far more secure than ever before.  Equal compensation in case of delays, 5 year warranty on quality of work, better capital management so as to ensure better delivery are all much needed for bringing parity between the buyers and developers. All this will however come at a cost as implementing these conditions will lead to greater costs for the consumer. Customers must be ready to pay the price as they pass the risks over the developers.
Finally the real estate industry has a regulator who in the words of the Act is responsible to promote the entire industry including look after the interests of the developers along with the customers.

We look forward to the implementation of the Act at the earliest. The regulators must help streamline issues that are currently bottle necks for the developers and consequently the customers." - Mr. Rohit Gera, MD, Gera Developments & VP, CREDAI - Pune Metro

Comments

Popular posts from this blog

QNet launches New Luxury Chairos Watches

गोदरेज एंड बॉयस गोदरेज लॉकिम मोटर्स द्वारा चिकित्सा उपकरण कैलिब्रेशन सेवाओं के साथ भारत के स्वास्थ्य सेवा क्षेत्र की सुरक्षा

एस्टेक लाइफ साइंसेज ने आदि गोदरेज सेंटर फॉर केमिकल रिसर्च एंड डेवलपमेंट लॉन्च किया