Tuesday September 26, 2017
CREDAI wants to PM intervene on RERA - Tollybeats

CREDAI wants to PM intervene on RERA

Updated | August 21, 2017 08:32 IST

The real estate companies have written a letter to PM Modi and requested his involvement for the smooth implementation of Real Estate Regulation Act(RERA) by disclosing the problems they’ve been facing due to inappropriate infrastructure and non-notification of RERA rules.

The Confederation of Real Estate Developers Association of India(CREDAI) also wanted more clarity from the state and central authorities on the definition of an under construction or ongoing projects and appealed for the process in their letter to Prime Minister of India.

They also mentioned of majority developers who failed to register their projects under RERA on time due to lack of infrastructure and the non-notified RERA rules. And also said this situation of them results in loss of revenue to both State and Central Governments as well.

CREDAI also disclosed that many of the States not yet appointed a regulator whereas some appointed recently. CREDAI wanted detailed rules on the ongoing projects with a regulator which gives the clear idea to them on RERA.

 

Keywords: CREDAI, RERA, PM Modi, REal Estate developers letter to PM, Narendhra Modi, Real Estate projects

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