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Old 18-03-11   #1
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Icon2 Sign and Support the Petition for Real Estate Regulation Act


Hello All,

We are starting an online campaign to show our support as consumers for the Real Estate Regulation Act bill which will benefit people from all walks of life.

We hope the moderators and admin team of Erodov will support us.

Please sign the online petition to support the Model Real Estate Regulation Act bill and to protect the interest of end-users and investors in the real estate industry.

This petition will be sent directly to Sh Kamal Nath, Union Cabinet Minister of Urban Development with all the signatures collected and this is our chance to show that we as consumers can make a difference. Please share this link and ask every family member, relative or friend in any corner of the world to sign this online petition. Share this link in your FB page, share with your office colleagues, share within your online community group, share with your residential group, share with anyone and everyone.

The link to the petition is

Support the Petition for Real Estate Regulatory Body Petition for Real Estate Regulatory Body
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Old 18-03-11   #2
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Re: Sign and Support the Petition for Real Estate Regulation Act

What is this - Model Real Estate Regulation Act bill? I would surely like to read it. I cannot support something unless I know the details about it.

Real estate in India is a huge bubble which has been fueled by the Govt, RBI and banks. It is also one of the biggest causes of the current inflation in other sectors such as food, energy and wages.
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Old 18-03-11   #3
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Re: Sign and Support the Petition for Real Estate Regulation Act

Real Estate cannot be regulated in any democratic country.

BTW my family is into big time real estate business


Best of luck.
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Old 18-03-11   #4
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Re: Sign and Support the Petition for Real Estate Regulation Act

Thanks. Please read up to know more about the Real Estate Regulation Act which is required to protect interest of home buyers.

This might not effect you at this moment, but will definitely impact you in the future once you venture out in the real estate sector looking for a home as a investor or end-user.
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Old 18-03-11   #5
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Re: Sign and Support the Petition for Real Estate Regulation Act

Regulating real estate business in any country = people going missing for no reason at all
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Old 19-03-11   #6
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Re: Sign and Support the Petition for Real Estate Regulation Act

Please read this

More teeth for real estate Bill - Hindustan Times
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Old 19-03-11   #7
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Re: Sign and Support the Petition for Real Estate Regulation Act

I will and can support you on this novel idea.. but care to explain.. as to the real fine points about it.. !!!
just fyi, if there was a way of regulating real estate. the world would be a happy place as US home market would not have turned turtle !!
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Old 19-03-11   #8
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Re: Sign and Support the Petition for Real Estate Regulation Act

even one of my close friend who is owner of small film business and real estate business,

that he has no issue cause he is close friend M. K. Stalin (DMK Karunanidhi's son)

that he can help us to sort the issue about business goal and support team at real estate cause i am sure there might be scam due to corrupt some owner who sold the land at few year might be fast deal about business issue
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Old 19-03-11   #9
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Re: Sign and Support the Petition for Real Estate Regulation Act

Thanks. As I mentioned earlier, this might not effect you at this moment, but will definitely impact you in the future once you venture out in the real estate sector looking for a home as a investor or end-user.

Even I was unaware of the need of this real estate regulation bill until a few months ago. Now when I have invested all my hard earned money in buying a home, which is one of the most important investment in your life and every penny counts, I have come to realise that every builder, developer out there in the market is waiting to suck your blood and money because there is no authority over them. They will promise you the world when you approach them, but you'll slowly realise they are offering you peanuts and will try every trick in this world to dupe you. As soon as you signed the agreement, you have already fallen into the black hole. You cannot do anything because there is no control, authority over the builders and there is no institution to approach for any complains.

We have different regulatory bodies for different sectors like SEBI for stocks, TRAI for telecom, IRDA for insurance. They are the appellate authority and monitor and govern the rules and regulations of these sectors.

A regulatory body for real estate will ensure that builders and developers strictly follow the rules and regulations, deliver what was promised to customer, do not try any fraudulent activity, builders will face penal action for any irregularity.

We can debate endlessly if this bill or petition will help the cause, but as a young generation and with power of online communities I am trying my bit.

Please sign and support.
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Old 19-03-11   #10
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Re: Sign and Support the Petition for Real Estate Regulation Act

^ ouch I dont think the builders lobby will let that happen any time soon.... we will have to nuke all of our politicians(opposition included) just ot pass this bill. I guarantee you that even if this does pass, it wont have any teeth. Just like the GST is almost watered down to suit the industry, in the same way this will too.

but I agree, we need this. Think about it, How many buildings are actually earthquake proof? especially here in Mumbai, the high rises scare me. The city lies on a fault line, and God forbid if we have half a Japan type quake here what would happen......

We need quality and accountability, if the act addresses this issue, then I am all for it.
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