Living in West Bengal comes with the experience of a magnificent culture, intertwined with its unsupervised real estate problems. Often upcoming residential projects in Kolkata go unregistered, with no definite reliability on what is offered and at what given price, possessing extreme chances of the customer being dragged into a hoax, but that ends with the arrival of HIRA. Buyers take a deep breathe, as under section 20 of the West Bengal Housing Industry Regulatory Act, the Housing Industry Regulatory Authority was incorporated(also known as HIRA) from the 1st of June, 2018, aiming to legalize the investments on the real estate sector and in protecting the interests of the buyers.
The fear of being disappointed by what you buy and what you finally get will hopefully evaporate with the HIRA Act. The HIRA Act attempts to focus on providing explicit guidelines for the regulation and promotion of housing facilities or real estate in West Bengal, as it demands that any housing project with eight apartments or above 500 meters, and any real estate project require themselves to be registered with the Regulatory Authority. In case a completion certificate has not been issued to ongoing projects, they would need to provide an application to HIRA, otherwise, they won’t be able to sell.
The best part about the HIRA Act is that it concentrates all the information necessary for the knowledge of a buyer into a singular website. The website not only provides to the public, the acts, rules, and regulations of HIRA, it also manages to display a list of registered projects along with a list of defaulters so that any interested consumer can verify whether the New flats for sale in Kolkata fall under the list or not.
Coming out as a consumer-friendly notion, the HIRA proposes rules and regulations by which all the real estate projects would have to comply. This would help in carrying out investigations and offering penalties in the event of any violation and assist the buyers in identifying the Best residential projects in Kolkata from a pool of options which would otherwise have been unavailable or scattered with no mother site to consult to. As per the rules, the promoters would have to provide their final plans with precision and follow through with each.
Therefore, it is safe to say that with the implementation of this act, real estate and housing projects will become buyer-friendly and more reliable in their delivery. Consumers would not have to rely on the sole information of the promoters and would be entitled to acquire correct information on whichever upcoming residential projects in Kolkata, they are investing or looking to invest their hard-earned money on, which the Aspirations Group pride in having provided long before the implication of HIRA with the utmost transparency. What can be more liberating than that!