Union Cabinet approves regulator for real estate, lays down norms to help home buyers

Q: Union Cabinet approves regulator for real estate, lays down norms to help home buyers

A real estate regulator — to be set up in every state — will ensure that private developers get all their projects registered with it before sale.
TNN | Jun 5, 2013, 01.02AM IST

NEW DELHI: The Union Cabinet on Tuesday cleared a legislation to set up a long-pending real estate regulator aiming to protect home buyers from unscrupulous developers and builders.

More details are available in papers.

suggestions:
1) Service Tax actual payment details to Treasury by the Promoters against actual collection from the Flat Owners are not known. No receipt / challan copy given to Buyers. Proper receipt for actual deposit amount to be given to the Buyers. THIS MUST BE INCLUDED.

2) Carpet Area of the Flat including the Covered car parking to be mentioned in the Agreement

K.Sivanarayanan , Apartment Resident

2nd July 2013

Real estate News in Chennai

regulator for real estate

lays down norms to help home buyers

Follow Discussion

Also see discussions for

Chennai Real estate News Real estate News in Chennai

Replies (2)

If CREDAI is really sincere in helping Apartment owners the President / Chairman of CREDAI must be from a Flat owner and not a Building Promoter and members from Flat Owners to be included in the CREDAI committee

K.Sivanarayanan , Apartment Resident

2nd July 2013

Comment

suggestions:
1) Service Tax actual payment details to Treasury by the Promoters against actual collection from the Flat Owners are not known. No receipt / challan copy given to Buyers. Proper receipt for actual deposit amount to be given to the Buyers. THIS MUST BE INCLUDED IN THE LAW

2) Carpet Area of the Flat includE the Covered car parking to be clearly mentioned in the Agreement

K.Sivanarayanan , Apartment Resident

2nd July 2013

Comment