Declare March 10th as ‘Homebuyer’s Day’: Activists

NEW DELHI: Home buyers’ group ‘Fight for RERA’ has urged the government to declare March 10 as ‘Homebuyer’s Day’ to highlight the empowerment of homebuyers, who have being suffering in the hands of developers. In a letter to Union minister for housing M Venkaiah Naidu on February 27, the home buyers’ group has also asked the minister to announce awards to be presented on this day every year by the ministry for such homebuyers or homebuyers group which have taken forward the agenda of fulfilling home buyers’ aspirations.

The Real Estate (Regulation and Development) Bill was passed last year on March 10 after a long wait of 8 years. “It is pertinent to reflect into history briefly to remember the tribulations this Bill went through before it was finally passed by both the houses of Parliament,” said Abhay Upadhyay, national convenor, Fight For RERA.

The Bill was introduced in Rajya Sabha by the UPA government on August 14, 2013 and was referred to the select committee of Rajya Sabha on May 6, 2015 after the BJP government came to power. The committee report was tabled in Rajya Sabha on July 30, 2015, and received the cabinet approval on December 9, 2015. The Real Estate (Regulation & Development) Act, 2016 (RERA) was finally notified on May 1 last year.

Fight For RERA has played an active role in aggressively lobbying for the passage of the real estate regulatory Act. All the states are required to notify real estate rules including the general rules and the agreement for sale rules and establish the real estate regulatory authorities and the appellate tribunals maximum by April 30, 2017 as the Act would commence its full operation from May 1.

However, only four states of Gujarat, Madhya Pradesh, Maharashtra, Uttar Pradesh and six Union Territories have notified the final rules so far.

Fight for RERA has also recently written to written to the prime minister Narendra Modi and Naidu asking separate Parliamentary committee on subordinate legislation (COSL) of the two houses of Parliament to intercede so that states do not weaken the RERA and ensure that final rules are framed and implemented within the ambit of RERA.

Credits ET Realty

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