Stringent Realty Laws to Tighten the Noose Around Faulty Builders

In the recent times, many Indian real estate development groups and companies have been a part of the news for the wrong reasons. Faulty...

Stringent Realty

In the recent times, many Indian real estate development groups and companies have been a part of the news for the wrong reasons. Faulty building projects that compromise the security of the residents has raised eyebrows from all sections of the society. However, the good news to all of it is that special steps have been taken to bring the faulty developers to justice and rigorous laws are being introduced with the aim of increasing the gulf between the unscrupulous operators and the honest and transparent builders who have achieved success through years of hard work and now have their much deserved reputations to protect. This is a positive step taken by law makers and the government of India to bring unreliable builders to justice since the action prevents the whole community from being maligned by the ill reputation. The eager home buyers of India will now have the assurance that their doubts and grievances will be regularly heard and duly acted upon.

In a ruling of major importance, a consumer has disputed a redressal forum that has held a Mumbai builder guilty of being non-compliant to an order that was passed 9 years ago. This has led to him being sentenced for 2 years in prison. The forum chief has found that this builder had actually failed to hand over a flat within promised time, in spite of receiving the whole sum. By taking into account the complaint of the deficiency in service as lodged by the buyer, the forum directed the builder of the property to immediately hand over the apartment with all amenities, along with the compensation for the delay and all litigation expenses, within a span of 2 months. However, in spite of the court ruling, the builder did not hand over possession of the flat to the buyer and this has led to the decision of imprisonment.

Other than the delay in possession, there was another case that involved exploitation of FSI which was caused by stepping beyond the permissible limits. Breach of entitlement such as these is a major legal offence. There has been another case where the builder, upon not being able to complete a project that involved redevelopment of an old residential building within the pre-agreed time, threatened buyers with the cancellation of payment for alternative accommodation. The builder was also seen forcing these residents to accept the possession of the property without the presence of proper occupancy certificate. This led the members to file a complaint against the builder. The case is under hearing at the current moment. Based on the pro-consumer approach taken by the legal system in India, it is safe to say that the proper justice will be meted out.

All these important legal regulations that are being applied to the real estate market in Bangalore and rest of India will help in improving the prospects for the apartments for sale in Sarjapur in Bangalore. Bangalore has always been on the precipice of real estate development for a long time and this current approach taken by the government will certainly encourage home buyers and real estate investors to come forward and take an interest in what the real estate market in this city has to offer. The new apartments in Sarjapur Road Bangalore are being developed by some of the best and renowned developers in this city, which means that home owners can completely rely on the authenticity of the projects.

In many cases, under construction projects are not able to meet the demands and obligations of the currently existing regulators. To resolve the difficulties that are posed by this problem, RERA or Real Estate Regulatory Act will take steps in May this year that will ease most of the consumer concerns like delayed delivery as well as changes in the project layout. This is certainly going to enhance the sales figures for apartments in Sarjapur Road Bangalore.

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item Stringent Realty Laws to Tighten the Noose Around Faulty Builders
Stringent Realty Laws to Tighten the Noose Around Faulty Builders
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