Homebuyers’ Interest Most Important: Yogi Adityanath at RERA Conference
Uttar Pradesh Chief Minister Yogi Adityanath on Monday in state capital Lucknow said that safeguarding the interest of those who gave their life-time earnings to builders hoping to have their own house is of most importance to him. Such people face problems as, despite all the hard-earned money being stuck, they have to pay their bank loan.
The first national conclave of Real Estate Regulatory Authority (RERA) held at Indira Gandhi Pratishthan in Lucknow and it will be held every year.
RERA chiefs and leading developers from across the country took part in the five sessions organized as part of the day-long event which included several aspects of the realty sector.
The Chief Minister further said, “However, this doesn’t mean we will ignore the concern of other sectors connected with the real estate. If builders meet their commitments in a transparent manner, they too will be given all potential help as per the laws. If this happens, the real estate sector will once again recover from the depression and can touch new heights”.
He said that people migrate to cities for better facilities and if they do not get them, they stop trusting the government.
He also explained that the previous government had floated a myth about serving UP Chief Ministers visiting Noida.
He asserted that it was a conspiracy by those who had either invested their black money in Noida, Greater Noida or near the Yamuna Expressway or were favoring such people for their personal benefit. However, I went there and heard the issues of both homebuyers and builders. Later, I realized that the problems are not as big or serious as they were presented. People who wanted these problems to continue did not want me there. Either, the money received from homebuyers was shared by the accused among themselves or it was invested in some other sector. A visit by any sympathetic person to the area could have uncovered the culprits, and so the publicity.
The Chief Minister also said that political and governmental corruption is also at the root of the hodgepodge in the real estate sector.
It is to note that Uttar Pradesh tops the table when it comes to the number of complaints filed against builders. The state has registered 45% of the total complaints filed with the regulatory authority in the country.
On the occasion, Union Minister Hardeep Singh Puri challenged that before Rera was garnered by the Narendra Modi government, corruption was widespread in the real estate sector. After agriculture, the real estate sector has the highest scope. Earlier, this sector was unorganized. Prime Minister Narendra Modi organized the sector through RERA implementation within a year after coming to power, and in the days to come, we will make RERA more effective and transparent. Our aim is to change the course of urbanization in the coming days”, said Puri.
He also said the government will launch the Model Tenancy Act and Real Estate E-commerce Portal soon.
Talking to the media after the conclave, UP RERA Chairman Rajeev Kumar said there was a need to build trust between buyers and builders.
Several recommendations were discussed in the conclave including the carrying out of rules and possible co-operation between the legal forums where the buyer can go.
“As everyone dreams of a home and thus every person linked to this sector. The sector contributes about 8% to the GDP and it holds 5th position among the sectors receiving money through foreign investment”, Durga Prasad Mishra Said.
