West Bengal: Real Estate Regulation Act gives a new ray of hope to many

High hopes are pinned on Real Estate Regulation Act (RERA) as it is yet to be implemented in West Bengal. However, several consumers, who have been facing problems in getting the possession of their property feel that they will soon see better opportunities.

Anshu Ruia (34) had put in his hard-earned money into DLF Galleria in eastern part of Kolkata in 2008. The building was ready by 2013 and the company had asked him to sign an agreement stating a no claim police and wait for agreement.

However, Anshu refused to sign the agreement making it all the more difficult for him to acquire the property. He had paid all dues amounting to around Rs 1 crore for a commercial property that he brought for personal use. However, Anshu is yet to inhabit his property.

“I had booked this property in 2008 and in 2013 I paid the entire money including stamp duty and registration charges. But despite that they did not give me possession of my property,” he said. He added that he has been making frequent trips to get possession and the developer is taking advantage of his circumstances. “Such developers take the advantage of their might and our hard-earned money is lost. We still don’t know how to get justice,” he said.