Real Estate and State of Homebuyers

Real Estate

Following the finance minister’s announcement of setting up a Rs.250 billion fund – in the nature of Category-II Alternative Investment Funds – real-estate developers will be able to complete construction and revive stalled projects, say Aradhana Bhansali and Manasi Padwalkar.

The acts of real-estate developers have had multiple effects not only on homebuyers, depriving them of their legitimate rights to enjoy and occupy their respective flats in a time-bound manner, but also on the entities carrying out the projects crashing down, leading to a total standstill of housing projects.

For decades, the mentality of the developers has been feudalistic,with them asking homebuyers to sign unilateral agreements with