For hassled homebuyers, an additional layer of protection from delays, hidden charges, substandard construction

livemint.com:

Subscribe to enjoy similar stories. New Delhi: For homebuyers facing issues such as construction delays, substandard construction or hidden charges in apartment sales, India’s consumer protection watchdog is ready to take up the cudgels on their behalf. India’s Central Consumer Protection Authority plans to collaborate with the Real Estate Regulatory Authority (Rera) to help homebuyers file complaints, seek compensation, and address unfair contracts with developers, according to two officials familiar with CCPA’s plans.

CCPA plans to address issues such as delays in obtaining possession of properties, defective home appliances provided by developers, and problems related to home loans, one of them said. The consumer watchdog will also help monitor online property sales and rental platforms to ensure accurate listings and plans to take action against false advertisements or scams, the official added. “The CCPA is dedicated to protecting consumer rights.

In cases where there is a breach of trust or a deficiency in service, CCPA will intervene to safeguard the interests of consumers," the second official said. Both of them declined to be identified. CCPA’s plan assumes significance as India’s real estate industry is projected to grow from $200 billion in 2021 to $1 trillion by 2030, according to a joint report by the National Real Estate Development Council and EY.