Could not enter own house in 2010 because project had not received OC: Piyush Goyal

Union Minister Piyush Goyal shared a personal anecdote about not being able to enter his own house in 2010 because the project had not received an Occupancy Certificate (OC). He emphasized the importance of regulatory compliance and the role of the Real Estate (Regulation and Development) Act (RERA) in protecting homebuyers’ interests. Goyal highlighted that the lack of an OC can cause significant inconvenience and financial loss to homebuyers. He praised RERA for bringing transparency and accountability to the real estate sector, ensuring that developers adhere to project timelines and quality standards. Goyal’s experience underscores the critical need for stringent regulatory frameworks to safeguard consumer rights and promote trust in the real estate market.