Delhi RERA Urges Builders to Act Against Defaulting Buyers
Real Estate

Delhi RERA Urges Builders to Act Against Defaulting Buyers

The Delhi Real Estate Regulatory Authority (RERA) Chairman is urging builders to file complaints against customers who default on payments. This directive aims to maintain financial integrity in the real estate sector and ensure transparency and accountability in transactions.

Builders must comply with strict timelines and obligations, but buyers also have a responsibility to make timely payments. Failure to honour financial commitments disrupts project progress and strains developers financially. The Chairman's call for action highlights the importance of balanced accountability.

Timely payment compliance is crucial for sustained growth and stability in real estate. Delays or defaults in payments impede construction progress, increase costs, and tarnish the industry's reputation. Addressing non-payment instances promotes a culture of financial responsibility.

The proactive stance aligns with RERA's objective of fostering transparent, fair, and accountable real estate transactions. Upholding financial commitments is essential for seamless project execution and industry credibility. Taking measures against payment defaults contributes to a robust real estate sector in Delhi.

The Delhi Real Estate Regulatory Authority (RERA) Chairman is urging builders to file complaints against customers who default on payments. This directive aims to maintain financial integrity in the real estate sector and ensure transparency and accountability in transactions. Builders must comply with strict timelines and obligations, but buyers also have a responsibility to make timely payments. Failure to honour financial commitments disrupts project progress and strains developers financially. The Chairman's call for action highlights the importance of balanced accountability. Timely payment compliance is crucial for sustained growth and stability in real estate. Delays or defaults in payments impede construction progress, increase costs, and tarnish the industry's reputation. Addressing non-payment instances promotes a culture of financial responsibility. The proactive stance aligns with RERA's objective of fostering transparent, fair, and accountable real estate transactions. Upholding financial commitments is essential for seamless project execution and industry credibility. Taking measures against payment defaults contributes to a robust real estate sector in Delhi.

Next Story
Infrastructure Urban

VinFast Eyes Expansion in India Beyond Tamil Nadu

Vingroup’s electric vehicle arm, VinFast, is ramping up its India entry with a US$2 billion (approx. Rs 167 billion) manufacturing facility underway in Thoothukudi, Tamil Nadu, and is now in talks with Andhra Pradesh and Telangana governments to expand its footprint.VinFast plans to launch its VF6 and VF7 electric SUV models in India ahead of the festival season this year, marking its debut in the country’s fast-growing EV market. "We explored several locations before finalising Thoothukudi for its strategic proximity to a port and airport," said VinFast Asia CEO Pham Sanh Chau.Beyond Tami..

Next Story
Infrastructure Transport

Uttarakhand Inks Pact for Eco Ropeway to Kunjapuri

The Uttarakhand government has signed a Memorandum of Understanding with Swiss ropeway manufacturer Bartholet Maschinenbau AG to develop a ropeway connecting Tapovan in Rishikesh to the Kunjapuri Temple in Narendranagar, Tehri district.The ropeway project, aimed at enhancing tourism and accessibility, will offer a seamless, eco-friendly alternative to road travel, significantly reducing journey time while improving safety and lowering environmental impact. Officials stated that the system will also ease traffic congestion and promote sustainable tourism in the region.Bartholet, a leading Swiss..

Next Story
Equipment

Construction Equipment Demand Set To Rise in FY25

Industry stakeholders anticipate strong demand for construction equipment in FY25, buoyed by above-normal monsoon forecasts and the Indian government’s continued focus on infrastructure development. This outlook was shared by Deepak Shetty, President-Designate of ICEMA and CEO & MD of JCB India.Shetty expressed optimism that the Indian Meteorological Department’s prediction of above-average rainfall would directly benefit the rural market—where most construction equipment is deployed. “With the government’s infrastructure thrust, I expect double-digit growth for the sector this y..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?