Centre to hold workshop with homebuyers, builders, banks on Nov 15

For effective implementation of the Real Estate Act, the Housing and Urban Affairs Ministry will hold a day-long workshop for home-buyers, bank representatives, builders and other stakeholders from northern states on November 15, an official said. According to the official, the participants from the northern states, including Uttarakhand, Uttar Pradesh, Haryana, Himachal Pradesh and Punjab, will discuss issues pertaining to the legislation of 2016, which provides proper protection to home-buyers. The Real Estate (Regulation and Development) Act was enacted by Parliament and states were given powers to notify their respective rules and appoint regulatory authorities. The official said home-buyers can raise issues pertaining to delay in delivery of flats in the workshop. The legislation provides for timely delivery of housing units by builders whose projects are registered under it. "It has been two years since the legislation was enacted by Parliament. We want all stakeholders -- banks, regulatory authorities, home-buyers and builders -- to discuss issues pertaining to its implementation," the official said.