In the wake of the Supreme Court asking DLF to deposit Rs. 630 crores as the penalty imposed by CCI and the recent notices issued to 20 other developers, Mr Vineet Relia, Managing Director, SARE Homes shared his views in a panel discussion on ‘The Property Show’ on NDTV Prime. DLF has challenged the order in the Supreme Court which has agreed to admit it but ordered DLF to deposit the fine and interest within three months. Mr. Vineet Relia opined that there was a trust deficit between the builders and buyers and this gap can be bridged if the real estate regulator is setup. The Centre and State governments should also work closely to set up a single-window clearance system for regulatory approvals and permissions required by real estate developers. This will prevent midstream changes due to which developers are sometimes forced to make changes in project designs leading to cost escalations and delays in delivery. On the flat buyer agreements he said “ the idea is not to cheat customers but to simply ensure a level-playing field to protect the interests of developers too”. https://youtube/watch?v=gg4y6Sr5Ge4&feature=youtu.be
Posted on: Sat, 30 Aug 2014 09:05:38 +0000