Builders have to deliver what they have promised to the flat buyers. Otherwise they will be taken to task - Venkaiah Naidu, Union Urban Development Minister:
1) Entire Act - Real Estate (Regulation and Development) Act 2016 - will not be notified. Portions of the Act will be notified. Like definitions of Carpet Area, Occupancy Certificate etc. And, of course, Establishment of State Real Estate Regulatory Authority. Establishment of Real Estate Appellate Tribunal etc.
2) 1 full year may be required to implement the complete Act.
3) There should be a time bound programme to implement the entire Act. In the meantime, an interim authority should be appointed right away - equivalent to the housing secretary of the state - which is capable to handle the huge number of complaints against the builders. Mr. Rohit Gera of Gera Development suggests.
4) To avoid coming under the purview of the Act - many builders will try to complete their under construction projects. Pankaj Kapoor, Liases Foras, comments.
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