Know about the WB HIRA act before buying a property

HIRA is the Housing Industry Regulatory Act, 2017 which has been published in the Official Gazette dated 17th October 2017 and came into effect on 1st June 2018.

The act will benefit the real estate market in West Bengal by the following clauses:

  1. Consent of 2/3rd allottees for any crucial addition or alteration in plan.
  2. The Act provides genuine guidelines to regulate and to promote the housing sector or the real estate sector in West Bengal.
  3. There should be transparency about the project enabling the buyer to make an informed decision as a project plan, layout, approvals, land title status; sub-contractors are in the public domain.
  4. To safeguard the interest of consumers in the real estate sector.
  5. To set up a mechanism that can quickly resolve various disputes related to real estate.

Customers can breathe a sigh of relief as with the implementation and execution of this act, the real estate agents, brokers, promoters, etc. have to become transparent in their dealings. Customers can now safeguard themselves with WB HIRA when they are investing their hard-earned money into buying a home.

That is why the objective of WB HIRA is:
To regulate and promote the housing sector and to ensure the sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish a mechanism for speedy dispute redressal and matters connected therewith or incidental thereto.

Registration of Real Estate project and registration of real-estate agents – a few points

  1. No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate project or part of it, without registering the real estate project with the Housing Industry Regulatory Authority established under this Act.
  2. The act states that any housing project with eight apartments or above 500 meters, and any real estate project have to be registered with the Regulatory Authority.
  3. Where any real estate agent who has been granted registration under this Act commits a breach of any of the conditions thereof or any other terms or conditions specified under this Act or any rules or regulations made there under, or where the Authority is satisfied that such registration has been secured by the real-estate agent through misrepresentation or fraud, the Authority may, without prejudice to any other provisions under this Act, revoke the registration or suspend the same for such period as it thinks fit.
  4. Every promoter shall make an application to the authority for registration of the real-estate project in such, manner, within such time and accompanied by such fee as may be specified by the regulations made by the Authority.

Potential buyers looking to buy apartments should only choose such property those are WB HIRA registered. This will ensure that no buyer is duped. The buyers can at any time refer to the official website of Hira-https://hira.wb.gov.in/ for any help or guidance. Any person with grievances may file a complaint with the Authority for any violation or contravention of the provisions of the Act against any promoter, allottee, or real estate agent.

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