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Residents in Dehradun are protesting against the slow progress of the investigation into the four-year-old Orchid Park case. The residents had filed an FIR three years ago, but it was only a few months ago that a charge sheet was filed. The protesters gathered outside the Real Estate Regulatory Authority (RERA) office in Dehradun to demand action.
The residents are demanding that they receive the apartments promised to them in the builder-buyer agreement. They claim that they have been cheated out of their hard-earned money and are paying rent and loan instalments for properties that have not been given to them.
The protesters also criticized RERA for not taking more action in the matter. They pointed out that section 8(a) of the Real Estate (Regulation and Development) Act, 2016 gives power to RERA to take over a property and give it to another builder if the original builder is found to be violating a clause. The residents are expecting RERA to take more aggressive action to resolve the issue.
The Orchid Park case is not unique in India's real estate sector. Delayed delivery and incomplete projects have become a common occurrence, leading to frustration among buyers. The Real Estate (Regulation and Development) Act, 2016 was introduced to address these issues and protect the rights of buyers.
The Act establishes a regulatory authority in each state and union territory to oversee the real estate sector's development and ensure that builders follow specific guidelines. Under the Act, builders are required to register their projects with the regulatory authority and provide timely delivery of their projects. The Act also provides for the establishment of an appellate tribunal to handle disputes.
Despite these measures, the real estate sector in India continues to face challenges. The sector's regulatory framework is still evolving, and there is a need for greater transparency and accountability in the sector. Many buyers feel that they have been left at the mercy of builders and developers, with little recourse when things go wrong.
To address these issues, the government needs to continue to strengthen the regulatory framework and take action against builders who violate the rules. There is also a need for greater transparency in the sector, with builders required to provide more information to buyers about their projects' progress and completion timelines.
The Orchid Park case is a reflection of the challenges facing India's real estate sector. Delayed projects and incomplete deliveries have become a common occurrence, leading to frustration among buyers. The government needs to take more aggressive action to strengthen the regulatory framework and protect the rights of buyers. Only then can the sector regain the trust of buyers and continue to grow and develop.
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