Page 24 - NIS English 16-31,March 2023

Cover Story Middle Class

Protecting

the interest of

home buyers,

democratizing

connectivity

The Real Estate Regulatory Authority
(RERA) was formed to fulfill the dream
of the middle class to own a house and
to ensure that the investment made after
earning a lifetime is legally protected.
This protects the rights of the home
buyers, so the developers are also bound
to pay compensation for the delay or
any other violation. While democratizing
connectivity increased, there was a huge
jump in the network readiness index.
86,942

cases were disposed
of by the real estate
regulatory authorities
set up by the states.
RERA Act 2016 provides
protection to home DEMOCRATIZING CONNECTIVITY
buyers.

Explanation of the carpet
area of the house being THEN 2014 NOW 2022-23
sold.
The financial penalty for Number 25.15 83.69
of internet
delay, no change without connections
the buyer's permission. Crore Crore
Protecting middle- Number of
class investment in Broadband 6.10 81.62
housing: After RERA, Connections
builders pay interest and Crore Crore
compensation for delays

Swami Investment 1 GB 269 10.29
data cost
Fund of Rs 25,000 crore
helps in starting stalled Rupees Rupees
projects.

22 New India Samachar March 16-31, 2023