Sign and support the petition for Real Estate Regulation Act

Shakensoul

Shakensoul

Skilled
Hello All,

We are starting an online campaign to show our support as consumers for the Real Estate Regulation Act bill which will benefit people from all walks of life.

We hope the moderators and admin team of Techenclave will support us.

Please sign the online petition to support the Model Real Estate Regulation Act bill and to protect the interest of end-users and investors in the real estate industry.

This petition will be sent directly to Sh Kamal Nath, Union Cabinet Minister of Urban Development with all the signatures collected and this is our chance to show that we as consumers can make a difference. Please share this link and ask every family member, relative or friend in any corner of the world to sign this online petition. Share this link in your facebook / orkut page, share with your office colleagues, share within your online community group, share with your residential group, share with anyone and everyone.

The link to the petition is

Support the Petition for Real Estate Regulatory Body « Petition for Real Estate Regulatory Body
 
im also interested in knowing what it will do.

Do not want to support anything for the matter of social support. It will not be a support as a consumer then.

And no, we as a consumer can not do anything by creating petitions; People vote for leaders and leaders vote for bills; the whole 'cut the middleman' approach does not work in such cases.
 
Thanks. Please read up to know more about the Real Estate Regulation Act which is required to protect interest of home buyers.

This might not effect you at this moment, but will definitely impact you in the future once you venture out in the real estate sector looking for a home as a investor or end-user.
 
Do you think the goverment of india is actually for the people? if and when they feel they can make money out of it they will pass it, you wont even need to get petitions signed.

Madnav, dont be under the illusion that we elect our so called psychopathic leaders, the leaders elect themselves using hard cash, cheap liquor, sarees, tv's, muscle power etc..

btw, real estate is one of the most fav direct ventures of these leaders also including hospitals, educational institues, car and bike showrooms, hotels etc.. and indirectly all the illegal activites that go on.
 
A simple solution for all real estate problems would be implementation of some capital tax for any person holding more than one property of which the other property is lying unused.
I have seen in my area lots of new building are lying vacant with their flats all being sold out.
Because apparently all those land hoarders want to double their profit in one to two years.
If such an act is brought through then all those artificial jacking up of prices will be kept under control.
 
delays in construction is inevitable , here in hyd a mandatory 6 month delay is always added to the time limit of a project , after which the contractor blames it on labour , weather , material costs and other things which are not under his control and which cannot be made as a punishable offence and thus not paying the penalty for delay , this will never change

but what is more problematic is projects not getting off ground and people pouring money into it and not gettting it back
 
As I mentioned earlier, this might not effect the members here at this moment because most of us still have not reached that phase, but will definitely impact you in the future once you venture out in the real estate sector looking for a home as a investor or end-user.

Even I was unaware of the need of this real estate regulation bill until a few months ago. Now when I have invested all my hard earned money in buying a home, which is one of the most important investment in your life and every penny counts, I have come to realise that every builder, developer out there in the market is waiting to suck your blood and money because there is no authority over them. They will promise you the world when you approach them, but you'll slowly realise they are offering you peanuts and will try every trick in this world to dupe you. As soon as you signed the agreement, you have already fallen into the black hole. You cannot do anything because there is no control, authority over the builders and there is no institution to approach for any complains.

We have different regulatory bodies for different sectors like SEBI for stocks, TRAI for telecom, IRDA for insurance. They are the appellate authority and monitor and govern the rules and regulations of these sectors.

A regulatory body for real estate will ensure that builders and developers strictly follow the rules and regulations, deliver what was promised to customer, do not try any fraudulent activity, or builders will face penal action for any irregularity.

We can debate endlessly if this bill or petition will help the cause, but as a young generation and with power of online communities I am trying my bit and each on of us should.

Please sign and support.
 
I agree, there is a real need for a regulatory authority for real estate to address problems of the buyers to counterbalance the clout builders have. Implementing something like this would probably be impractical/limited in effectiveness in the civil field considering the way it works in India but even having a token body is better than having nothing.
 
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