Petition for Real Estate Regulatory Body

[webmaster]

Hi All,

We will be running a petition campaign to support the introduction of the Real Estate Regulatory bill which will be sent to a union cabinet minister directly.

I have drafted a small petition for which I need help from fellow members. Below is the draft of the petition, I ask other members to review and suggest any changes required in the petition.

We, the undersigned, would like to petition and pledge our support for introducing the Real Estate Regulatory Bill to help all aggrieved end-users and investors of various residential societies across the country. Currently, in the absence of any real estate regulatory body, developers have caused immense agony, frustration among end-users and duped thousands of people through various fraudulent activities and irregularities. The common people powerless to take any action against the developers are left stranded and duped out of their life’s savings.

Real Estate, being one of the largest industry in India needs to have a regulatory body to control and check any irregularities and prevent any fraud to the common people.

We ask your government to introduce the Real Estate Regulatory bill at the earliest and provide hope to millions of end-users and restore faith in the government and administration.

[sksaigal22@yahoo.co.in]

very nice. send it.

sanjiv

[soumyen mitra]

Dear Jayanta, It`s a novel & innovative idea! We have full support. We the common people at time feel very helpless to the Big & Powerful lobby of the Real Estate Business Baron/Builder/Promoter. A section of such people are FRAUD making soft target to common people luring/tempting flat/home with false promises. Govt`s role works asusual everybody knows after the mess is done. Therefore it will act as preventive. Please go ahead. Regards, Soumyen Mitra

[gayatri2006]

Hi Jayanta,

It is complete in itself & reflect the need of the bill. Thank you for the same. While I know once the need is justified then only the further addition will be required but still I wanted to add here that:-

as almost all the builders generally take approx 80% of the cost at the time of completion of structure. And this is the stage where the speed of the work goes down. While if you see the main work starts from that point (Cost wise). I suggest that the builder at this stage should be allowed only to take 40%-50% so that they also take interest in further construction at a fast pace. Else since they already get almost 80%, therefore their interest in the project slows down & the money goes to some new project.

So basically my idea is to add a clause in the bill that the payment schedule should be fixed by the government once for all, based on actual % of cost at each stage.


Gayatri Bajpai

[webmaster]

Thanks Gayatri for the feedback.

At this point we are drafting the petition with a brief synopsis why the petition is required. I am sure once the real estate regulatory bill is passed, all the points that you mentioned would be incorporated.

If anyone has any more suggestions, kindly post here.

[vinitanandwani]

National level Investor meet in Noida on 8th May in support of Real Estate regulation

http://navbharattimes.indiatimes.com/de ... 171153.cms