On Friday, at the Global Investment Summit 2018, Gurugram the Union Minister of State in the Ministry of Housing and Urban Affairs, Hardeep Singh Puri said that ‘Advisory Committees’ have been set up by the government in the southern, eastern and western region to fix the existing issues of real estate.
The committees will counsel with homebuyers and builders and look to solve problems for the same so that the deliveries of affordable houses are not postponed further and developers are also ready to deal with their beaurocratic problems.
The assigned work of the committees will begin in June 2018.
The government was advised by Mr Rajeev Talwar, chairman NAREDCO (National Real Estate Development Council) to take care of those real estate builders and developers whose land parcels have been mortgaged by different states in pretext as it would postpone the venture’s completion date and put a stop to the country’s real estate development.
The minister put the blame on some selected real estate developers who have defamed this sector noting that proper action will be taken against them as per the law. He also assured that the Union government – in counsel with the state of Haryana and UP, would be able to fix and solve the problems of NCR developers and builders.
Hardeep Singh Puri also said that the members of the Advisory Committee will also address the issues of builders related to RERA.
Everyone has a dream of purchasing a home. The savings of a lifespan and a lot of emotions go into purchasing a home. Along these lines, the choices you make in the home-purchasing procedure can have a major difference between a home that is a gift to your family and a home that turns into a financial burden.
To help you with the big decision of purchasing a home, below are some tips to remember when buying a home:
1. Reliable Developer: Following developer’s money related and project card report is essential. Most data about the engineer can be acquired online on their site which includes finish data correlated to their progressing and past undertakings. This can go far in determining developer’s market reputation and furthermore help comprehend their product portfolio. Research can help in picking your dream home.
2. Location: Whether you are intending to invest or purchase a home to live in, the location of the property assumes an imperative part. It likewise turns into an integral factor whether you should purchase that house or not. For example, the distance between the close-by market and your house is extremely urgent. Different inquiries you should address are:
• Time taken to travel to and fro from work?
• What is the infrastructure around the area?
• Is there a constant supply of water and electricity?
• Is there a parking space?
• Are there schools, hospitals nearby?
3. Security: Security is one of the most important factors to consider when buying a home. Consider not buying a home where the rate of crime is high.
4. Know your rights: With the implementation of RERA (Real Estate Regulatory Act), there is a transparency between the developer and the customer. So the customer should look whether the property is RERA-registered or not.