Kerala Real Estate Regulatory Authority (K-RERA) chairman P.H. Kurian has said that various efforts made to ensure regulatory compliance have paved the way for greater transparency and accountability in the real estate sector.
He was delivering the presidential address at a programme organised here on Friday to felicitate the buyers and builders of the sixth The Hindu Home Expo held in July.
Mr. Kurian said K-RERA has been closely monitoring the progress of each project with most developers largely adhering to the delivery time promised to the customers. Some have even been delivering flats ahead of the expected time. At least 90% of the projects have been progressing in accordance with the prescribed norms, he pointed out.
While 1,059 projects have registered with the statutory authority, K-RERA continues to receive complaints, mostly concerning old projects, some of which are nearly 15 years old.
As part of enhancing transparency, K-RERA introduced QR Codes for each project a month ago. The codes, Mr. Kurian said, will enable homebuyers to access information related to the projects including approved plans and progress.
General Education and Labour Minister V. Sivankutty who inaugurated the programme said an expo organised by The Hindu is bound to instil confidence among prospective buyers considering the immense trust reposed in the organisation.
The sixth edition of The Hindu Home Expo, presented by CERA and powered by Canara Bank, which was held in Lulu Mall, had generated tremendous response with nearly 2000 people visiting the stalls set up by several leading builders. Nearly 20 flats and villas were sold at the two-day event. The buyers were presented gift vouchers worth ₹10,000 each.
CREDAI Trivandrum president S. Suresh Kumar, CERA Sanitaryware Ltd. president (marketing) Rahul Jain, Canara Bank divisional manager Kesava Moorthy, The Hindu Group assistant vice president and Kerala business head K.K. Joshy and manager (advertisement) M.R. Krishnanunni also spoke on the occasion.