Illegal colonies on farm land mushroom in Jaipur
Illegal business of developing unregularised plotted colonies on agriculture land, continues to flourish in the state capital, leaving many home buyers in a fix.
For regularised market, the urban development and housing (UDH) department has implemented RERA (Real Estate Regulation & Development Act, 2016) to check the authenticity of housing projects and ensuring that developers fulfil their commitments. Also read http://realtyplusmag.com/real-estate-transaction-volumes-in-asia-pacific-to-rise-by-5-in-2019-2/
However, not much relief has been provided to the home buyers, as real estate dealers and agents are duping them after selling plots on the unregularised colonies developed on agriculture land.
The gullible buyers invest their hard-earned money in these housing schemes, only to be rudely awakened later that all their lifetime savings may go down the drain.
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