Homebuyers' interests must be top priority: Bihar CM
Patna, Aug 1
Bihar Chief Minister Samrat Chaudhary on Saturday reviewed the functioning of the Bihar Real Estate Regulatory Authority and directed officials to make the system more transparent, accountable, simple and technology-driven.
Chairing the review meeting at the Sankalp conference hall at the Lok Sewak Bhavan, the Chief Minister said RERA's objective should not be limited to promoting the Ease of Doing Business.
He emphasised that protecting the rights and interests of homebuyers must remain its foremost priority.
Samrat Chaudhary said it was the government's responsibility to safeguard people who invest their lifetime savings in purchasing a home. He directed officials to ensure that complaints and cases filed by homebuyers are resolved fairly, transparently and within a stipulated timeframe.
He said timely grievance redressal would help strengthen people's confidence in RERA and improve trust in the state's real estate regulatory system. At the same time, the Chief Minister stressed that procedures for promoters and developers should also be made simple, transparent and convenient.
Such reforms, he said, would facilitate business operations, speed up project implementation and help create a more conducive investment environment in Bihar.
RERA Chairman Vivek Kumar Singh briefed the Chief Minister about the authority's existing functioning and various systems. Following the presentation, Samrat Chaudhary directed officials further to strengthen the use of technology across RERA's operations.
He emphasised that digitalisation is essential to eliminate unnecessary delays and improve efficiency. The Chief Minister also directed officials to explore integrating RERA with the state government's treasury system and other digital platforms.
Such integration would facilitate better monitoring of pending cases, payments and other administrative processes. The Chief Minister said the protection of homebuyers' interests should remain at the centre of real estate sector reforms.
At the same time, a transparent and simplified regulatory framework for developers would help improve the business environment.
He emphasised that faster grievance resolution, greater accountability, and increased digitalisation would not only protect homebuyers but also boost public confidence and encourage investment in Bihar's real estate sector.
— IANS
Reader Comments
Technology integration with treasury system sounds promising. But the real test will be whether RERA actually resolves cases within the stipulated timeframe. I have seen many cases stuck for years. Actions speak louder than words.
Good initiative, but why did it take so long? My cousin bought a flat in a project near Danapur in 2019, still not registered. RERA needs more teeth to punish defaulting builders. Digitalisation is good, but ground reality needs to change. Jai Bihar! 💪
As someone who follows Indian real estate from abroad, it's good to see Bihar taking proactive steps for homebuyer protection. But I wonder if this will actually translate into better enforcement or just more red tape. The balance between ease of doing business and consumer protection is tricky.
The CM's words are reassuring, but the real issue is the delay in project approvals that pushes developers to delay possession. If they really want to help homebuyers, they should speed up the approval process too. Transparency in both sides is key! ✨
Nice to see RERA getting priority. But I hope the integration with treasury and other platforms doesn't add more bureaucratic layers. In the US, we have escrow accounts to protect buyer money. Maybe India could adopt something similar to really secure homebuyer funds.
R We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.