By Staff Reporter
Anand Kumar, the Chairman of the Real Estate Regulatory Authority (RERA) for Delhi, has underscored the significance of ethical practices and transparency among stakeholders in the real estate sector. Speaking at the National Conference on “Real Estate Development and Action Plan for New India,” organized by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), Kumar stressed that builders, developers, and collaborators must operate transparently and in accordance with rules, fulfilling commitments made to customers. Building trust among the public should be a primary focus.
Addressing the conference, Kumar directed a message to all parties involved in the real estate sector, urging vigilance and awareness. He advised individuals purchasing land, plots, flats, or commercial properties labeled as “RERA registered” to verify the information on RERA’s official website.
Kumar emphasized the necessity for transparency and trust-building efforts by builders, developers, and entrepreneurs in the real estate industry. He highlighted the importance of registering projects with RERA before commencing work. Kumar noted that while some builders and developers are hesitant to register with RERA due to the ongoing monitoring and the need to fulfill promises, such actions are essential to ensure accountability.
The Chairman warned against the dissemination of false information regarding the sale of properties without RERA registration, emphasizing that strict actions will be taken against such entities. He assured that RERA will not compromise on this matter.
Kumar attributed the enactment of the RERA Act to the need for addressing the atmosphere of mistrust and suffering experienced by homebuyers in the real estate sector. He urged developers to comply with guidelines and regulations fully, contributing to the sector’s progress and maintaining honesty and sincerity.
Highlighting the significance of the real estate sector in terms of employment generation and economic growth, Kumar stressed the collective responsibility to fulfill Prime Minister Narendra Modi’s vision of providing housing for all. He emphasized that success in the sector benefits everyone and encourages its faster growth.
The Chairman’s call for ethical practices and adherence to RERA regulations serves as a clarion call for the real estate sector to prioritize transparency and trust-building, ultimately benefiting both stakeholders and the industry’s growth.