By Tricitynews
Chandigarh,
06th Mar, 2020:- To promote the real estate sector by
demystifying real estate laws and to make people aware about Real Estate
Regulatory Authority(RERA) and its functioning - a book titled “My Experiment With Rera” by S. Jagdish
Singh Khushdil, member of (RERA) Punjab, was unveiled here at Chandigarh.
The event was organized by Confederation of Real Estate Developers' Association
of India (CREDAI), and also saw a discussion on RERA & a very important topic-'Realty Roadmap 2020'.
Those who participated in the book launch and discussions included the author
Jagdish S Khushdil, Jagjit Singh Majha, President, CREDAI, Punjab, Harish
Gupta, Vice President, CREDAI, Punjab, Arun Jindal, General Secretary, CREDAI,
Punjab, Umang Jindal, Joint Secretary, CREDAI, Punjab and Tarninder Singh,
President, New Chandigarh, CREDAI.
The idea behind the event was to
facilitate the growth and promotion of a healthy, transparent, efficient and
competitive real estate sector. RERA is the authority which is entrusted
to enforce Real Estate (Regulation & Development Act 2016).
The author, S. Jagdish Khushdil has a
vast 35 years of experience as a legal luminary in diverse capacities. He is a
Former District & Sessions Judge, Former Adjudicating Officer, RERA and
also Former President, District Consumer Forums.
While addressing the gathering,
Khushdil said, “The main reason behind writing this book is to make people more
aware about the laws connected with the real estate sector. I believe that a
large segment of people are still not aware about these and the era which has
been ushered in after formation of RERA."
He added, “As it’s a difficult and
dry subject, so very few people know about it. To make the subject interesting,
I have simplified details about RERA and associated acts in my book. I have
also mentioned Consumer Act, local laws like PAPRA, Town & Country Act in a
simplified way, which is easy to comprehend for even the layman.”
During the occasion, Jagjit Singh Majha,
President of CREDAI, Punjab congratulated Khushdil for his book and said that we
believe that real estate sector will be promoted through the book. Through this
unique literary initiative people will become more aware of laws and RERA which
in turn will bring greater transparency in the real estate business. The net
result will be that consumer confidence in the system will get a boost. The
higher awareness among key stake holders will bring in accountability.
Some interesting information nuggets
which are lesser known to people in general are part of the book. The author
has elaborated in the book that promoters can also file a complaint with RERA
against a consumer if the latter indulged in unfair and illegal practice and
not just vice versa which is the established belief.
The book will do yeoman's service in
bringing RERA and its objectives closer to all stakeholders. It is also
clarified in the book that police has no power to take cognizance of offences
in real estate sector and even if a consumer wants to approach a civil court
there is written permission from RERA which is required. So now RERA has become
the sole body that adjudicates and resolves conflict in the sector.
The book also explains how RERA will
gradually sound the death knell for unauthorized colonies which have been
erected in violation of the law.
Some experts spoke about how CREDAI
which has 20,000 real estate developers as its members spread across 21 states
has been instrumental in formation of RERA. Experts like S. Jagjit Majha,
President, CREDAI dwelled on the importance of the real estate sector to
India's economy. Majha said that the real estate industry provides employment
to over 40 million people and work to 269 different industries. What's more,
real estate accounts for 8 per cent of the country's GDP which is slated to
touch 13 per cent by 2025. These figures have been revealed by National
Productivity Council. RERA is a boon for this industry as it will set the bar
for quality and even make the industry completely organized.
The book is a ready-reckoner for all
stake holders in the real estate industry be they real estate developers,
agents, consultants and end users or consumers. The book is available
in paper-back at Shriram Law House, Sec 17, Chandigarh and can also be ordered
on Amazon.