The Indian Parliament passed the Real Estate (Regulation and Development) Act, 2016 (RERA) is an Act. The said act ensures to safeguard the interests of home buyers and also increases the funds in the real estate sector.
The Centre’s objective to bring all new and continuous real estate projects under Real Estate (Regulation and Development) Act (RERA) has gotten a difficulty as West Bengal government has articulated its own law for the part in the state. This astounded numerous considering the state had told the draft a year ago according to the power given to the particular state governments under the Central law.
“It was an amazement for us why the state government favoured new enactment of its own — West Bengal Housing Industry Regulation Act (WBHIRA) — other than to weaken the RERA arrangements to support developers. Every other states have embraced RERA, which was actualized after a few examinations of parliamentary councils and was even supported by the Bombay High Court,” said Forum For People’s Collective Efforts (FPCE), through Abhay Upadhyay, the group of citizens that assembled house buyers for passage of the law.
Housing Ministry sources alleged that West Bengal’s law has not yet got the presidential consent, which is fundamental since there is as of now a central law to manage comparative issues. As per section 254 of the Constitution, if any arrangement of a law made by state legislation is objectionable to any arrangement of a law made by Parliament then the law made by Parliament should remain and be applicable.
There are two noteworthy drawbacks of RERA in the new law articulated by the Mamata Banerjee government. The first is on unexpected conditions that keep a developer from fulfilling his contract. RERA says the conditions could be war, drought, flood, fire, earthquake, cyclone or some other disaster caused by nature where HIRA makes an expansion to the clause “…or any other circumstances as may be prescribed.”
The second deviation is on basements or garages. While RERA requires a rooftop and dividers on three sides, HIRA has evacuated the clause out and characterized garage as any parking space authorized by the government authority.
Everything said, the recent real estate bill ensures absolute justice, by promising the flat buyers to get their vision flat timely and at an affordable price.