Haryana’s H-RERA, today notified that strong and strict action could be taken against developers who unable to fulfil all promises made to home buyers.
With the meeting of industry body PHDCCI, H-RERA chairman KK Khandelwal said to real estate developers to fulfil promises made to home consumers in their brochures to get away stringent provisions of actual estate regulation RERA that came into effect from might also last 12 months.
He assured that it will not take coercive measures towards actual property builders and builders if they keep their commitments.
Khandelwal stated initiatives in which forty percent development is completed would now not be encouraged for withdrawals. The regulator would make sure that such tasks take off even if there are certain delays in shipping and profitable occupancy.
He made it clear that the regulator will not take “coercive measures in opposition to any developers and builders in case their work is advancing with significant development”.
However, strong action would be taken to the developers and builders with mala fide intention, he was quoted as saying as by PHDCCI statement.
Khandelwal requested developers to be fair and transparent about their commercial enterprise practices. PHDCCI President Anil Khaitan appreciates the RERA implementation and exuded self-belief that with its enactment the arena could grow.