Nayan Shah, President, CREDAI MCHI : All stakeholders should be accountable to RERA

Developer Sanjay Agarwal's alleged suicide has reminded many developers of Suraj Parmar, who had shot himself in 2015. While the exact reason behind the alleged suicide is yet to be ascertained, developers claim that regulations tightening their noose have made life difficult for the lot. Developers say that government bodies, especially those who approve projects, should also be brought under RERA to ease the situation. "It is a very unfortunate incident. As per news reports, Agarwal was under tremendous stress because his Chembur project was delayed. It is common knowledge that most developers in MMR area are under tremendous stress to perform and give timely possession of their projects while they are fully dependent for all approvals on other stakeholders like approving authorities and government agencies who do not have any checks on them. Developers do not have any fall back mechanism where they can file complaints because as soon as they do it, various officials come together to ensure their voice gets muzzled and business interests compromised. Since the advent of RERA, we have been requesting at various forums for implementation of section 32 (b) and (c) of RERA Act, by which actions of approving authorities can be put under check. However, lot more needs to be done in this direction. We urge the government to ensure a balance of responsibilities is ensured among all stakeholders in the housing industry," said Nayan Shah, President, CREDAI MCHI. Also read http://realtyplusmag.com/2019-year-for-real-estate/ Developers also claim that there is a need for dialogue between government and the industry. Keep watching this space for more new updates on real estate and allied industries.