Residential ProjectsFlat Buyers’ Association of India is now engaged with a new task of finding and preparing a list of all delayed residential projects across the country. Before this, flat buyers’ association had played a significant part in notifying the real estate regulation law. The apex body of real estate, CREDAI (Confederation of Real Estate Developers’ Associations of India), had demanded the exclusion of the projects that were still going on from the scope of the regulation. Therefore, the flat buyers’ association is now making a list of all the extensively delayed residential projects in India.

The members of the association want to break the myths about real estate market that are being viral. According to the association, these myths include-

  • Putting the blame on few unreliable builders who bring bad name to the entire real estate sector. Almost all the builders claim their buyers are satisfied.
  • New projects should be under the ambit of the regulation and not the old ones.
  • Issue of delayed delivery of residential properties is not just confined to big cities like Delhi or Mumbai, but is prevailing in almost every part of India.

Earlier this month, union minister M Venkaiah Naidu had told the developers to simply complete what they have promised to the homebuyers. They do not have to do anything more than what they have adhered to the advertisement in order to get the government on their sides.

The members of flat buyers’ association of India are trying to get in touch with almost all kinds of homebuyers across the country to get all the sufficient data so that they can contradict the influence that is being created by real estate market, as says a source.