Insight: TN draft rules lay down jail to realtors for construction delay

Most of us living in cities have either gone through this, or know someone who has. Investing your life's savings in a home that you cannot move into. Deadlines lapse, builders don't pay up. You pay EMI and house rent. And you have no recourse because you can't match the legal might of a big builder. The Tamil Nadu government has drafted rules in the Real Estate Act that provide for jail term for defaulting builders.

On Insight tonight we ask if this is the solution to the problems of lakhs of home buyers, and if other states should follow suit.

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