The interest of homebuyers is paramount: Yogi in the RERA conclave

Lucknow, November 4 () Uttar Pradesh Prime Minister Yogi Adityanath said Monday that safeguarding the interest of those who give their builders for life in the hope of having their own home is of paramount importance to he.

For me, the interest of those who bet their profits on a house is supreme. These people face problems, because although all the money is stuck, they also have to pay the bank loan, he said in the first national conclave of the Royal Heritage Regulatory Authority (RERA) in Indira Gandhi Pratishthan.

However, this does not mean that we will neglect the interest of other sectors associated with the real estate sector. If builders keep their promises transparently, they will also receive all possible help according to the rules. If this happens, the real thing The state sector will recover again from the recession and will touch new heights, the prime minister said.

Citing the example of an Ayodhya resident, Mahabir Harijan, a mason by profession, whose destiny changed after receiving money from the PM Housing Scheme, Adityanath said: Owning a home is associated with self-reliance.

He said people migrate to cities to get better facilities and if they don't get them, they stop trusting the government.

He also said that previous governments had raised a myth about serving the main UP ministers visiting Noida.

It was a conspiracy of those who had invested their black money in Noida, Greater Noida or near the Yamuna Highway or were sponsoring those people for their personal interest, he claimed.

A maximum of 80 percent of complaints have been received about not obtaining possession of your home, even after paying the full amount, from eight districts in the state. After meeting some of the victims and builders, I understood the myth of Noida. he said.

I believe that political and administrative dishonesty is also at the root of the disorder in this sector. Either the money received from the buyers was distributed by the guilty among them or invested in another sector. A visit by any compassionate person to the area could have exposed the culprits who divided the money between them. Therefore, there has been a propaganda against Noida, he said.

The prime minister praised the work done by RERA and said the government will also announce more measures to strengthen RERA and make the real estate sector full of potential.

He said that during the last 10 years, there were about three buyers of Lakh houses who could not get their accommodation. Without any pressure, through dialogue, we were able to guarantee accommodation for buyers of a lakh in Noida, Greater Noida and Yamuna Expressway, he said.

The State Minister of the Union for Urban Development, Hardeep Singh Puri, said in his speech that corruption plagued the sector before RERA.

This sector, with immense potential after agriculture, was not organized, he said.

Within a year, after coming to power, Prime Minister Narendra Modi organized the sector through RERA. Previously, four regional conclaves on RERA were also held. This is the first national conclave and will take place every year, he added.

He said the government will launch the Model Leasing Law and the Real Estate Electronic Commerce Portal soon.

The secretary of the Ministry of Housing and Urban Development, Durga Shankar Mishra, said that everyone dreams of a roof and, therefore, each person is linked to this sector.

It will be necessary to build houses in 900 km2 every year to make everyone's dream come true. The sector contributes about 8 percent to GDP. The sector occupies the fifth position among the sectors that receive money through foreign investment. Misra said.

RERA President Rajeev Kumar said it was necessary to build trust between buyers and builders. Parveen Jain, vice president of the National Real Estate Development Council, said the sector continues to face challenges in terms of reduced construction financing and high levels of unsold inventory. SAB ABH ABH