Indore: Antony DeSa, chairman, MP Real Estate Regulatory Authority (RERA) stated that there is common misconception among people that projects registered in RERA only comes under the ambit of the (RERA) Act. This is not true. He said all projects whether registered or not, are covered under RERA. Therefore, such projects which are not registered with RERA and if any complaint comes against them, RERA can take action.
While discussing topics related to maintenance, he said RERA generally does not go into details of disputes in this regard. RERA's only aim is to fulfill the condition that the builder has given while handover. Former state Chief Secretary DeSa was addressing a webinar organized on RERA provisions by Indore CA Branch.
The keynote speaker, CA Vishnu Agarwal, said duration of the project is short in many mega projects and not much time is given by RERA which poses a lot of problems for the promoters. Responding to this, DeSa said that every person's dream is to buy a
house and he spends his entire capital amount for the purpose. If the time period
is not controlled, then the main objective of this Act will not be
fulfilled. He said duration of the project is determined keeping in view the total size of the project.
Programme director, CA Anand Jain, discussed various late fees charged in due course. He said if the application is not submitted on time in relation to the quarterly compliance of the project and extension of the project, the promoter has to pay a large amount of fee. He pleaded that this be reduced. The chairman said project fees are not very high and hence the promoters must follow the payment schedules duly.
CA Harsh Firoda, chairman of Indore branch, demanded a special course
for CA members.
