Nagpur: The Real Estate is an important recent legislation to be implemented from 1st May 2017. In the wake of major changes due to the enforcement of the RERA Act, Nagpur Branch of ICAI in association with CREDAI – Nagpur Metro organised a Seminar for understanding the Act and the consequences it would have in long run. CA Vinit Deo highlighted that the Act would help in resolving consumer grievances in a more conducive manner through the strong dispute resolution by means of RERA Authority and Tribunal being set up under the Act. While sharing his views on the Act, Deo enumerated the prevalent conditions in the Real Estate Sector in the Economy and the factors which the Builders must take care once the Act is implemented. He also added that in addition to these, help of Chartered Accountants for various legal, tax and other technicalities for selling or buying a property is also important to avoid hassles later.
Mahesh Sadhwani, Vice President, CREDAI – Maharashtra said that the Act was welcomed by the Builder & Developer community since it is a win-win situation for both the consumers and sellers. He also opined that all the players in Real Estate Sector will be benefitted through this Act however cautioned that certain chaos may prevail in the early phases of implementation of this Act which needs to be tackled with professional guidance.
Anil Nair, President, CREDAI – Nagpur said that the Act is a real game changer and said that CREDAI is fully geared up to educate and train its members in all aspects relating to the Act. He also welcomed the support of professionals such as Chartered Accountants in interpreting various rules and regulation and its effect of real estate business in the coming days. He also enumerated several issues and adverse effect that the Act might bring in after its implementation.
Earlier Vice Chairman of ICAI, Nagpur Branch CA. Umang Agrawal in his welcome address said that the Act aims for bringing transparency and fixing accountability on the sellers and would definitely create a healthy environment for the real estate sector to prosper rapidly. While welcoming the speakers he also extended the support of Nagpur Branch of ICAI to all trade and business associations for any help they might require in relation to any professional requirement and wished that more such programs be organised in future involving members of Trade and Business. He further appreciated the involvement of business community in such programs so as to understand the requirements & enable CA’s to deliver services in best possible manner.
In technical session CA. Vinit Deo from Pune guided the member on RERA Practical Aspects & Overview whereas CA. Prajkata Shetye, Pune deliberated on Planning & Compliance under RERA along with Role of Chartered Accountants. Both the speakers successfully resolved the issues of members present over the subject.
CA. Suren Duragkar, Secretary co-ordinated the programme. CA. Gaurav Agarwala, Secretary CREDAI proposed the formal vote of thanks and CA. Kirit Kalyani, Treasurer & CA. Jiten Saglani, co-ordinated the technical sessions.
Prominently present on the occasion were CA. Swapnil Ghate, CA. Sanjay Agrawal, CA. Saket Bagadia, CA. Ravindra Lashkare, CA. Gaurav Agrawal, Shishir Diwate, Tejinder Singh Renu, Sunil Duddalwar, Vishwash Gupta, Rahul Agrawal, Pranav Mor and over 300 participants.