Real Estate (Regulation and Development) Act, 2016 has already given a big sigh of relief to the home-buyers in Uttar Pradesh, alongside District administration of the State also started putting efforts to leash the mischiefs of the builders.
Lately, Gautam Buddh Nagar district administration taken a great initiative to protect the interest of the home-buyers and has asked the police to book the builders on muddling with the money of home-buyers and not adhering with the laws. The builders now will be charged under UP Gangsters and Anti-Social Activities (Prevention) Act, 1986 for the same.
In Uttar Pradesh multiple cases has been registered, wherein builders have sold one units to more than one buyer; in many other instances the builders have shown/constructed or sold units by wrongly increasing the units approved as per authority laws.
District Magistrate said that numerous FIRs have been registered on these issues and now this is the high time to have a tight grip on these malicious acts of the builders. It was also added by the District Magistrate that after filing FIR an investigation should be completed within the stipulated time, and the if charge sheet comes into existence for these cases then these should be framed under the UP Gangsters and Anti-Social Activities (Prevention) Act, 1986.It was also proposed that to mitigate these issues necessary action under Section 2 of the act should be initiated and property of these builders should be attached as per Section 141-A.
On the other hand, it was also announced by the police in their report that FIR against the builders will be registered soon in Noida and Greater Noida region; this act is going to cover 24 housing projects altogether which includes 10,130 residential flats and 39 commercial units.
Previously, a big promise to the home-buyers of Noida and Greater Noida had been made by CM Yogi Aditya Nath who is at the helm of the UP government. The government issued the order, wherein it was directed that the possession should be given to the 40,000 home-buyer by the end of December 2017 and subsequently 40,000 shall be given possession in the next three months.
To sum, we can say that those days are not far away where the Real Estate sector of the Country will be so regulated where people are going to rely blindly.
Disclaimer – The above points are based on the personal interpretation. The readers are expected to take expert opinion before placing reliance on it.