The Confederation of Real Estate Developers Associations of India (CREDAI) staunchly stands in opposition on the proposed RERA (Real Estate Regulatory Act). The apex body of developers said the powers sought to be vested with the regulatory authority will only increase multiform corruption, instead of monitoring social complaints. CREDAI President Lalit Kumar Jain said in a statement that the draconian provisions of the bill are against consumer interest. “We welcome the Union government’s noble intention to assist consumers in real estate industry, but the realty regulator bill in its present shape and form doesn’t solve the problem; rather it proves to be inflationary and breeding ground for corruption,” Jain said.RERA is after granting registrations manually and providing discriminatory power to the authority to cancel registration. “This is dangerous and will lead to greasing the palms and all such cost is bound to be passed onto the end buyer”Jain said in opposition.CREDAI being the apex regulatory authority of India has laid down special norms for its members to help the real estate sector grow with smoothness. CREDAI keeps a check on illegal activities and corruption within its jurisdiction to ensure that prospective buyers and budding Builders benefit from the many positives of the real estate sector.CREDAI wants a true regulator which will govern all stakeholders and can have the power to ensure that no delays occur due to other stakeholders, like planning authorities. займ на карту без отказов круглосуточновзять кредит онлайн