[INDIAN REAL ESTATE NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd. Here I have an important Indian real estate news to share with you which is as undermentioned.
PUNE: Experts have said that the RERA, which was envisaged to usher in more transparency in the real estate industry, is yet to be an effective deterrent against malpractices.
As the RERA is a small quasi-judicial and administrative body (with three members and a few adjudicating officers for the entire state), it does not have the bandwidth to look in to the details of over 19,000 registrations that were granted by the body in the state, so far.
The adjudicating officers themselves have powers to look at only certain sections of the act, while the main powers are bestowed only upon the members.
Experts have advised that even though disputes can be entertained later in courts, it is better for consumers to get conduct more due diligence. This can be done by consulting a lawyer on their own or perusing the documents for minute details and verifying the facts on the ground before investing.
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