Builders Of Jamshedpur Are Unable To Sell Flats
Jamshedpur,14 September 2017 : Builders Of Jamshedpur Are Now Unable To Sell Buildings In Jamshedpur.
More Than 1000 Building Projects which contain more than 10,000 Flats can't be sold due to the regulation passed by RERA (Real Estate Regulatory Act).
This include many project whose work has been completed and few projects are those which are already sold and the Buyer is already residing at the flat but the government has not issued occupancy certificate.
This new regulation implemented by Jharkhand government under RERA have raised problems in the real estate market.
This is not only troubling the builders but also the buyers, The Government has ordered the builders to get registered in a fresh way to get the certificates. This include many flats which were completed 20 years ago and have got their completion certificate but don't have occupancy certificate .
Kaushal Singh, President of Builder association said that the law should be reviewed once and as in other states the completed buildings or ongoing projects are excluded from the RERA act so should be the same for Jharkhand.
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