Quote:
Originally Posted by Sixgun
Well,
Who exactly are RERA?
Is it a government run organisation?
it's amazing how quickly things change, I only bought into this market a month ago, and I assumed, from my research, that RERA were the answer to all investors dreams.
That they were the absolute authority and completely in control, and that if they o/k'd a develepor it was a rock solid guarantee.
Now, I'm getting the impression that it is some hastilly thrown together side department of someone/sometheing, where no employee wants to be transferred to, and pass their frustration onto the people who need the help-US.
To be honest, I do not mind stuff like the 2% transfer rule, it was clearly explained to me before I got involved, and in reality, it should help things move along. when someone is no longer receiving this fee, all motivation to reach a conclusion disappears from those who can actually help.
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Today was my third visit to RERA for the same problem. I was given an appointment for today, only to find out that the person who was to deal with my case was on training...in other words the person who gave me the appointment goofed up.
Then the ping pong game started. I was told to meet someone on 4th floor, when I met the secretary to this person on the 4th floor, I was told to meet someone on the second floor. I flatly refused to go to the 2nd floor and decided to go home.
I have concluded that RERA will not be able to solve problems as yet. I will not cross swords with my developer as RERA will not be able to support me if any problems arise.
I will go to my developer and re negotiate my payment terms like a thorough gentle man.
Heard another horror story in the secondary market. The buyer paid Dhs 500,000 for a commercial in the secondary market, The seller changed his mind. Now the seller has served a legal notice nad the case has gone to court, the clauses in the contract favor the seller.
The seller has approached RERA and...the battle goes on. I don't RERA can do much after today's experience.
Regards
Roshan