Anshuman Magazine, Chairman and Chief Executive Officer, India, South-East Asia, Middle East, and Africa, CBRE. shares his thoughts with the media on this big development for the residential real estate sector; he says, “We believe it is indeed a positive step to instill confidence in the residential sector, especially for prospective buyers. The apex consumer commission( the National Consumer Disputes Redressal Commission ) has laid down a time period of one year for delayed projects, beyond which buyers can seek a refund from builders. This comes as a great respite for lakhs of home buyers, who were forced to wait indefinitely to get possession of their property. The step is expected to bring greater transparency and discipline for the sector as apart from being a great relief for buyers and investors, developers will now strive to commit more realistic timelines for project completion.”
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2014 The Global Indian New Network (TGINN)