June 25, 2018
COIMBATORE: The percentage of investment in land is much higher comparing to the investment in gold and shares. People involved in real estate business should not have any difficulty in buying or selling a property, said A.L. Balachandran, President, Coimbatore District Consumer Redressal Forum.
Inaugurating a seminar on RERA (Real Estate Regulation an Development Act) organized by Citizen’s Voice Club Coimbatore and Citizen Consumer and Civic Action Group, Chennai, on June 23, Balachandran said the Act resolved the inconvenience in selling the land.
The seminar discussed on the implementation of RERA in Tamil Nadu and salient features of the Act. The Act was enacted to create a more equitable and fair transaction between the buyer and the seller of properties and enhance accountability and transparency in the real estate sector. The Act also seeks to boost investments in the sector. In Tamil Nadu, TNRERA Rules were notified on June 22, 2017.
Later, talking to The Covai Post, President of Citizen’s Voice Club C.M. Jayaraman said the Act had the power to check and monitor real estate. “We should appreciate the State and Central Governments for giving RERA. More user friendly schemes should be initiated in order to protect the interest of consumers and stakeholders. The single window concept and construction of lift with specified size should be monitored under RERA,” he said.