RERA tightens land market in Rajasthan
The Real Estate (Regulation and Development) Act, 2016 (RERA) has tightened the noose on regulated market in the state, but illegal business of non-regularised plotted colonies on agricultural land, continues to flourish in the state capital, leaving many home buyers in a fix. Many buyers continue to invest their hard-earned money in these housing schemes without realizing that all their savings may go down the drain. At the time of selling plots, the dealers and their agents lure the home buyers with various facilities such as spacious parks, green belt, potable drinking water, well-constructed roads, sewerage facilities and power connections. Once the plots are sold, the dealers vanish leaving people at the mercy of the agents. For the regularised market, the urban development and housing (UDH) department has implemented RERA to check the authenticity of housing projects and to ensure that developers fulfil their commitments.
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