New law to safe guard buyers from fraud builders

Q: Anyone heard about the new law, Karnataka government planning to come up with. This law is going to help the buyers to choose the right builder now. Great initiative.

Vishal, Bangalore

26th June 2015

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Replies (3)

Hmm. Hope the Karnataka Government soon implement the new rule so that buyers like us who are planning to put their hard earned money in this market either for investment of for end use purpose.

Vishal, Bangalore

27th June 2015

Comment

Right now projects are approved at different levels by various agencies such as the BDA, BBMP, BMRDA and pollution control board. The bill proposed seeks to eliminate this by following compulsory registration of projects and making builder meet all requirements, put up all approvals and information about the project on sale proceeds and available inventory to the regulator.

Darpan Singh, Bangalore

26th June 2015

Comment

It is going to be a great relief for the home buyers if this law is implemented. Now-a- days there are many people who have been cheated by builders, developers, housing societies using false documents etc.

Darpan Singh, Bangalore

26th June 2015

Comment

The property buyers can now look forward to understand the status of projects and check documents with a common regulator before buying their dream house with the help of this new rule.

Mangal P, Bangalore

26th June 2015