Real estate regulation bill, aims to regulate the housing market and protect the interests of home buyers and develoers.

Q: This bill is not flawless & has to be passed in parliament.

Harilal, Delhi-NCR

24th December 2014

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Hello friends, I recently came across to Unnati Fortune Group, a leading real estate company in Delhi NCR. The group is offering premium residential and commercial projects in Noida - The Aranya and Unnati World, respectively. The projects are equipped with all modern amenities and offer residents the life of utmost luxury and comfort. The projects are strategically placed at most inhabited sector 119 and sector 144 of Noida, and offer residents great connectivity through the Noida Expressway and FNG corridor.

Abhay Bhardwaj,

7th April 2015

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Hi,

Are you an real estate agent Register/Login at Agents Login to get matching buyers and tenants.

Ananya,

3rd August 2015

Hi Sir,
Are you an real estate agent Register/Login at Agents Login to get matching buyers and tenants.

Ananya,

4th August 2015

In my point of view, in 2015, we expect the government will accord real estate sector the infrastructure status and bring in a single-window system for approvals. People hoped the government would bring more transparency through the land acquisition bill and that the RBI would reduce interest rate to salvage the fund crunch in the sector.

Kaushik Bardia,

24th December 2014

Comment

Hi Harilal,
As per my knowledge, some of the guidelines in the bill are provisions like restricting launch of projects or advertisements unless all approvals are received, maintaining separate account for customers' monies, sale of projects based on carpet area, etc, which will indeed help bring in transparency.

Jamuna sikhri, Delhi-NCR

24th December 2014

Comment

@ Harilal,

Other provisions like mandatory registration of projects within 15 days and registration of brokers are well intentioned but unless objective guidelines and rules are stipulated regarding the registration criteria, there is a danger of subjectivity creeping into the registration process. Stipulation of carpet area as the only measurement unit will limit fraudulent practices from using units like sale able area, super built-up area, etc.

Shivshankar, Delhi-NCR

24th December 2014

Hi Harilala,
As per my knowledge, this bill is certainly a step in the right direction and all the stakeholders hope that this new legislation will be supplemented with necessary rules and regulations which will clarify any ambiguities or gaps that exist in the bill. This bill is a nice initiate taken by govt to get rid of builder buyer issues.

Kajal, Delhi-NCR

24th December 2014

Comment

Hi Mr Harilala,

Yes Kajal ,you are right. taking a risk-based approach, the bill has been modelled taking into account appropriate checkpoints in key stages of a property transaction where regulation is most required, given the history of fraudulent practices and unfulfilled promises.

Sukhpreet, Delhi-NCR

24th December 2014

@ Harilala,

A common complaint is that developers and builders do not deliver what is promised when selling apartments. This bill will get rid of this kind of issues. While their advertisements show buildings and landscaping to match international quality, in a majority of cases, the ground reality is far different leaving buyers feeling cheated. The regulatory body envisaged in the draft bill would ensure that the developers are held accountable for what they promise and provide recourse to customers in case these are not fulfilled.

Lohit Raj, Delhi-NCR

24th December 2014