Real estate bill to regulate small project

Q: How this is going to impact the real estate market?

Utpal Das, Bangalore

2nd April 2014

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Replies (6)

Good News for the home buyers... The new law is going to bring a lot of relief for the buyers....

Manu Kumar, Bangalore

21st April 2016

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Hey Manu, Can you please share it with us what is the good news all about?

Utpal Das, Bangalore

21st April 2016

The new law says that the sales be made on carpet area rather than on super built up area where the home buyer have to pay for a part of the construction of common areas.

Again according to CRISIL, projects will be launched only after the developer secures all statutory clearances from respective authorities

Manu Kumar, Bangalore

21st April 2016

The Real Estate Bill 2013 has been a game changer for the developers in India. Its contribution in real estate in India cannot be denied

Girish Gupta, Bangalore

2nd April 2014

Comment

According to the Bill 2013, small projects which have been given shape on land less than 1000 sq m or which does not include more than 12 flats, traditionally, has been kept out of its radar. However, taking into account the rising uncertainties and intricacies involved in small projects, the squeezing in of the Real Estate Bill 2013 into the scene has became a mandate.

Devraj Shah, Bangalore

2nd April 2014

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The recent additions made to the bill has turned the tables for the small builders and developers in India. In a move to curb any kind of fraudulent activities in the small projects, the parliamentary panel, recently, has brought into the foray the idea of bringing small real estate projects under the purview of the Real Estate Bill 2013. According to the panel, the law will have a direct bearing on constructions which are built on 100 sq m area or more

Yogendra, Bangalore

2nd April 2014

As per the Bill, any small developers who fails to discharge a particular obligation mentioned in the Bill 2013 is legally bound to ante up a penalty.

Girish Gupta, Bangalore

2nd April 2014

Comment

Some small developers are of the notion that injecting the real estate law in small projects may overhaul the approval procedure significantly, and scale down the number of new launches. Worse, rise in disclosure requirements may also add up to the costs of the project and hence increase the construction expenses for the developers.

Devraj Shah, Bangalore

2nd April 2014

Comment

With the small projects coming under the jurisdiction of the Real Estate Bill 2013, developers(big or small), will be limited in their approach. Small projects that fails to acquire the required approvals, will be legally restricted from any kind of promotional or marketing activities.

Yogendra, Bangalore

2nd April 2014

Registration of all the small projects under the real estate regulatory authority will leave no scope for the small builders for any wrong doing. Furthermore, the bill also quotes that small promoters are required to spill the beans about the project, such as its name, plans, type, partnership firms, persons involved amongst others. This will promote greater transparency in the real estate transactions.

Yogendra, Bangalore

2nd April 2014

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