Wednesday, January 4, 2017

2017 Pune Real Estate Market Predictions - Fight Against Builder Mafia Raaj Continues

Maharashtra RERA Rules prove that 
the Builder Mafia controls the government. 
But Pune flat buyers know the simple way 
to fight against Builder Mafia Raaj. 
Do not book a flat at the launch or 
at the under construction stage of the housing project.
And they are exactly going to do that in 2017!:


2017 Pune Real Estate Market Predictions - Fight Against Builder Mafia Raaj Continues

2016 was the year of Pune property buyers fight against Builder Mafia Raaj.

Assuming that Maharashtra Government will protect it's citizens, Pune flat buyers declared war on Builder Mafia Raaj.

By issuing orders to register FIR against the builder under MOFA - Maharashtra Government only pretended to protect the flat buyers.

But the disappointed Pune flat buyers didn't give up.

Because to protect the flat buyers the Parliament of Republic of India had passed The Real Estate (Regulation and Development) Act, 2016.

Maharashtra Government was supposed to implement the same & establish Real Estate Regulatory Authorities (RERA).

RERA was the last hope for fighting Pune flat buyers.

They postponed their decisions to book a flat in under construction projects.

Let us wait for RERA - was the most popular idea in 2016.

It would be safe to book a flat after the RERA is implemented - majority of the flat buyers believed.

But Maharashtra Government missed the deadline for notifying the RERA Rules.

The RERA Rules of Union Territories gave hope to Pune flat buyers that in 2017 RERA will end the builder Mafia Raaj.

Somehow, on 8th of December 2016, Maharashtra Government published the RERA Rules.

The published Maharashtra RERA Rules were nothing but mockery of Real Estate Regulatory Bill passed by Indian Parliament.

Instead of protecting flat buyers, Maharashtra Government's RERA Rules were giving legal authority to the builders to dominate, victimize & intimidate flat buyers.

Pune flat buyers realized that if Maharastra RERA Rules are approved as published:

1) Builder can easily terminate the flat agreement

2) Complaining against the builder is going to be very expensive

3) Builder's complete track record will not be available for the flat buyers

4) Real estate agents can cheat the flat buyers & get away with crime easily

5) Builder can discriminate against flat buyers

To trick the flat buyers, instead of publishing in Marathi - the official language of Maharashtra - Maharashtra Government published RERA Rules in English - which very few can understand.

Not only that!

Maharashtra Government gave very less time to the citizens - only 15 days - to study & submit suggestions & objections on RERA Rules in English.

And you know what?

To prevent citizens from submitting suggestions & objections on RERA Rules the email address was intentionally misspelled.

Thanks to Mr. Vijay Kumbhar! Maharashtra Government had to publish RERA Rules in Marathi & extend the last date of submission to 31st December 2016.

Realizing that if the published RERA Rules are passed as it is, Builder Mafia Raaj is going to become the State Government of Maharashtra - angry & disappointed flat buyers submitted their suggestions & objections by 31st December 2016.

Though it is loud & clear that Maharashtra Government controlled by Builder Mafia is going to notify nearly the same RERA Rules which offer no protection to the flat buyers - Pune flat buyers, for sure, are not going to give up.

In 2017, Pune flat buyers are going to keep on fighting against Builder Mafia Raaj.

The simple way to fight against Builder Mafia Raaj is not to book a flat at the launch or at the under construction stage of the project.

Because the RERA is all about booking a flat in under construction housing project.

Except a few naive flat buyers, in the last couple of years, the majority of Pune flat buyers are fighting against Builder Mafia Raaj by not booking a flat in under construction projects.

In 2017, my prediction is, wise & assertive flat buyers in Pune are not going to book a flat in under construction project and will continue the fight against Builder Mafia Raaj.

Since the builder's business runs on flat buyers money

- just imagine how many more projects will be delayed, stalled, abandoned in 2017

- just imagine how many more builders will be absconding in 2017

- just imagine how many more builders will become bankrupt in 2017

What will happen to those naive flat buyers who have booked flats in these under construction projects?

What do you think?

Will these flat buyers do nothing till their builder dupes them?

Will these flat buyers cancel their agreements?

What will these flat buyers do in 2017?

In short, fight against Builder Mafia Raaj will not only continue but it will become more brutal in 2017.

Related Story:


1) Pune real estate market research report, trends & forecast 2016

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