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Real Estate Regulator in India

Last updated: January 11 2011
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  • Real Estate Regulator in India

    All,
    I believe we are all waiting for the real estate regulator to start functioning in India in 2010 to help us solve some of the problems we have.We, as consumers have been facing frauds since last 5 years. I request all those reading the thread post an update, if there is any about the initiative/regulator.
    Also, it is our responsibility to start talking within our groups about the same and the Congress has been purposely delaying the Regulator which has been tried atleast 3 times in the Parliament since last 10 years.

    Hope we as consumers create some pressure on the government, the builders have clearly expressed their displeasure on the same.

    Thanks
  • #2

    #2

    Re : Real Estate Regulator in India

    Originally posted by piyushchamedia View Post
    All,
    I believe we are all waiting for the real estate regulator to start functioning in India in 2010 to help us solve some of the problems we have.We, as consumers have been facing frauds since last 5 years. I request all those reading the thread post an update, if there is any about the initiative/regulator.
    There was a initiative taken by Mr Nitin Degaokar to form buyers yahoo group. He got many people sign up for the group and that was end of it (?)
    As far as members know that was end of it. Nothing happened there after.

    Comment

    • #3

      #3

      Re : Real Estate Regulator in India

      Personally I too want to have strong and working regulatory body for keeping tab on unorganized RE in major metro cities.But these are fairy tales.

      Kind of experience we have after independence from License Raj. I fear that this body will meet same fate. Rampant corruption and pro-builder regulators will defeat sole purpose of this body. ‘Realacre’ in some other post have mentioned about new city planning body being formed in 2007 for pune city. Yet they have not meet once . I think CM is suppose to be conveyor.

      I believe less government is and should be way to go. RE exuberance will correct on its own when liquidity abundance is addressed. If buyers are willing to pay ridiculous amounts for buying properties even regulators cant stop them. Slowness of mad rush and less speculative buying will address RE hype.
      Last edited April 2 2010, 09:00 PM.

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      • #4

        #4

        Re : Real Estate Regulator in India

        Originally posted by informsantosh View Post
        I believe less government is and should be way to go. RE exuberance will correct on its own when liquidity abundance is addressed. If buyers are willing to pay ridiculous amounts for buying properties even regulators cant stop them. Slowness of mad rush and less speculative buying will address RE hype.

        Agree with Santosh, Regulators can only ensure there are no frauds done, in terms of what is promised and delivered/late deliveries etc.

        RE prices will/can correct only when the Demand vs supply ratio turns in favor of buyers, with more supply and less demand.

        I read in some thread where one person booked in pre - pre launch offer. Unless people stop this mad rush, prices wont come down.

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        • #5

          #5

          Re : Real Estate Regulator in India

          I don't know what impact RE regulator will have on prices, but atleast it will be assured that the buyers get their flat in time after payment is done. Also, bookings without proper sanctions won't be allowed, if done, the builder will be blacklisted. The layout mods in between too will be tougher for builders. So, what you see at time of booking is what you will get at the end.

          Hence, atleast the security of buyer in terms of post-RE purchase will be ensured + ratings will be given to builders so for the buyers to make wise decisions.
          If you are happy, you are successful.

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          • #6

            #6

            Re : Real Estate Regulator in India

            Yeah and people will get real ranking of builders. As of today, if you ask any buyer, his builder is very good and very reputed and delivers quality

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            • #7

              #7

              Re : Real Estate Regulator in India

              And builders like Godrej Properties, Shapoorji Pallonji, Tata Housing have welcomed this move of setting of RE regulator.
              If you are happy, you are successful.

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              • #8

                #8

                Re : Real Estate Regulator in India

                Who can regulate Dada "Power" company

                Comment

                • #9

                  #9

                  Re : Real Estate Regulator in India

                  Originally posted by puser View Post
                  Who can regulate Dada "Power" company
                  As time passes, they will commit suicide. Don't worry, their days are numbered.
                  If you are happy, you are successful.

                  Comment

                  • #10

                    #10

                    Re : Real Estate Regulator in India

                    Originally posted by realacres View Post
                    As time passes, they will commit suicide. Don't worry, their days are numbered.
                    I must say that you are a Optimistic person.
                    But in general, good people are loved by even God and he calls them early. Its the less loved ones who God does not want them to come to him early. These people keep sucking others blood on earth.

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