FPCE writes to PM calling for separating promotion and development of the real estate sector.
NEW DELHI: The Forum for People’s Collective Efforts (FPCE), which spearheaded the movement for the Real Estate (Regulation and Development) Act, has written to Prime Minister Narendra Modi seeking changes to the law to strengthen homebuyer protection.In its letter, FPCE has called for separating the promotion and development of the real estate sector from the legal framework meant to protect homebuyers.It has also sought the re-enactment of RERA as a dedicated Real Estate Homebuyer Protection Act, with consumer protection at its core.The organisation has made five key recommendations:
- Separate real estate development from homebuyer protection: Keep the promotion and development of the real estate sector separate from the law designed to protect homebuyers.
- Re-enact RERA: Bring in a dedicated Real Estate Homebuyer Protection Act that places the interests of homebuyers at its centre.
- Shift administration to a consumer protection ministry: Entrust the law’s administration to a ministry whose primary mandate is consumer protection, such as the Department of Consumer Affairs.
- Ensure accountability: Introduce an effective accountability framework for
real estate regulatory authorities . - Prepare a time-bound action plan: Direct the ministry of
housing and urban affairs to examine FPCE’s report and draw up an action plan with clear timelines.