COERCIVE MEASURES UNLIKELY AGAINST DEVELOPERS THAT COMPLY WITH RERA, SAYS ITS HARYANA, REGULATOR

No.PR-60 July 27, 2018 New Delhi COERCIVE MEASURES UNLIKELY AGAINST DEVELOPERS THAT COMPLY WITH RERA, SAYS ITS HARYANA, REGULATOR Chairman, HARERA, Dr. K K Khandelwal on Friday appealed to the real estate developers and promoters including builders to concentrate fulfilling their promised intent to home buyers as prescribed in their brochures to escape stringent provisions of RERA. He promised that the real estate regulator in the State of Haryana will avoid taking coercive measures against real estate developers and builders in case it notices that prescribed commitments are being honoured by these so that the home buyers are not let down and added that HARERA is an enabler and aims at the progress of the infrastructure sector in Haryana. In addition, the regulator also committed that projects those that have completed 40 per cent of their real estate development would not be recommended for withdrawals and that it would be the intention of the authorities in the State that such projects take off even if there are certain delays in delivery and rewarding occupancy. Addressing an Interactive Session with Chairman, HARERA with the members of PHD Chamber of Commerce and Industry here today, Dr. Khandelwal made it amply clear that the real estate regulator will not take coercive measures against any developers and builders in case their work is advancing with considerable progress so that home buyers ultimately get their dwelling units even with slight delays against committed date of completion in their documents and brochures. However, stringent measures would be applicable towards those developers and builders with mala fide intention against their commitment and thus urged the promoters and real estate developers assembled on the occasion to be fairer and transparent in their visible conduct and business practices, he added. Justifying provisions of RERA in the State of Haryana, Dr. Khandelwal emphasized that it has led to the support and encouragement to builders and hardly subjected this lot to legalities though pointed out that some of its provisions and stipulations need redressal in the sense that some sort of amendments are required to be undertaken in order to rope in government within the ambit of this Act. President, PHD Chamber, Mr. Anil Khaitan in his welcome remarks appreciated the introduction of RERA and exuded confidence that with its enactment, both the developers and home buyers would be equally happier in dispensing their obligations and the real estate sector would be in for fairer growth not only to concerned stakeholders but equally to government also. Among others who were also present on the occasion comprised President, CREDAI-Haryana, Mr. Kushagr Ansal; Sr. Scientist, ACC Ltd., Mr. Manish V Karandikar; Chairman, Housing and Urban Development Committee, PHD Chamber, Mr. Manish Agarwal including its Director, Brig HPS Bedi (Retd). Ends. Koteshwar Prasad Dobhal Consultant (PR)