In your interest.
Online Personal Finance Magazine
No beating about the bush.
RERA, or Real Estate (Regulation and Development) Act 2016 (quite a mouthful), is on the tongues of so many people-politicians, government officials, builders, developers, contractors, buyers. Most are agreed it’s a good thing, this Act of kindness by the government. But don’t bet on everybody agreeing on it. Builders, for instance, surely wouldn’t like to be seen as the bad boys of the industry, lurking to pounce on unsuspecting buyers and rob them of their lifetime’s savings. Gera Development’s Rohit Gera has a slightly different take on this issue. While he says it is time to change course, he also has a dig at the system. He says the builder is the fall guy. “Bad building—bad builder; funds diverted—greedy builder.”
Greed, whose? He asks. What about the landlord, who won’t sell without cash? What about the buyer, who won’t buy without cash? What about the government official who won’t pass a building plan without cash?
Now, now, Mr Gera is not attacking RERA. He is merely hoping all this corruption is swept away. He calls this a ‘golden opportunity’ to clear the trash. Otherwise, years later, we would all be still saying, “I wish, I wish, I wish.” He ends on this sombre note. So please note, ye babus, clean up your own backyard too, says Gera on RERA, obliquely.