The Chairman of the Delhi Real Estate Regulatory Authority (RERA) has encouraged builders to file complaints against customers who fail to pay their dues on time. This call to action aims to address issues of non-payment and ensure fair and transparent transactions in the real estate sector.
The advice from the Delhi RERA Chairman underscores the importance of maintaining financial discipline and accountability in real estate transactions. By urging builders to report defaulting customers, RERA seeks to uphold the rights of developers and promote a level playing field in the industry.
Non-payment of dues by customers can have significant financial implications for builders, affecting project timelines, cash flow, and overall business operations. By filing complaints with RERA, builders can seek recourse and resolution for unpaid dues, thereby safeguarding their interests and ensuring project viability.
The proactive approach advocated by the Delhi RERA Chairman reflects the regulatory authority's commitment to fostering a fair and transparent real estate market. By empowering builders to take action against defaulting customers, RERA aims to uphold the integrity of transactions and strengthen investor confidence in the sector.
Builders are encouraged to utilise the mechanisms provided by RERA to address grievances related to non-payment of dues promptly. By leveraging regulatory support, developers can mitigate financial risks and maintain stability in their operations, contributing to the sustainable growth of the real estate industry.
