Waiting for the most useful act for real estate, The Real Estate Regulatory Act is finally set to be in complete force from May 1 across the whole country. It is being said that when it is about Noida, the authority has planned all the residential plots in Greater Noida and Noida to be uploaded on the website with all kinds of details.
In a meeting with the home buyers of Greater Noida and Noida, it has been noted that they are being blindfolded by the builders and thus need transparency in whatever they invest in. Therefore, the CEO of Noida Authority, Mohan Prasad has now informed all the representatives of NCR Home buyer Association that all the details of each and every project, be it plots in Greater Noida, Flats, Apartments or commercial spaces, the complete details of the project needs to be provided and thus uploaded as per RERA Act.
Rashesh Purohit, the co-founder of NCR Home Buyer Association spoke about the new rule and the detailed specification given to them. He said that Noida Authority will have an actively running site in 30 Days where detailed specifications would be given for the projects which are completed, those which are still ongoing and further updates will be given about the new launches. The specifications will include the number of towers, area of apartments and all other construction details which are needed by the home buyers to make a positive investment.
The homebuyers are said to have presented a memorandum to the Noida Authority clearly stating that they want regular meetings with the Noida’s Real Estate Authority with a representative for themselves. They also demanded source to track a builder’s construction process as well as the progress with all the minute details like fittings, the safety measures to be installed, woodwork, marble fitting and a lot more. They also demanded a separate grievance cell for the home buyers as a part of Noida Authority.