Since there was no regulator in this sector like SEBI in financial market and TRAI in communications, the average middle class homebuyer don’t want to involve into lengthy legal battles prefers to move away and in a wail and watch situation with the result this sector is facing demand crunch inspite of the fact that there is tremendous demand for affordable houses in India. With the passage of this Bill will deter the developers not to involve in any unfair trade practices mentioned in the Act which was rampart till date such as delayed projects ranging from one years to 10 years without any accountability on the developers to adhere to any norms as there was no such Act in tge country to regulate this sector. Frequent and arbitrary changes in the lay out plan, manipulation in the built up and carpet areas as well as the poor construction quality and delay in handling over of the possession without assigning any valid reason to the buyer. This is often done on the basis of making some unrealistic provision making in the agreement which is signed by the developers and buyer which buyer rarely bother to read.
