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Real Estate Forum on Real Estate Regulatory Bill

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: With demonetization, the property prices are expected to fall up to 30% and the builders are facing the heat. Therefore, this Act will become a crucial tool to protect buyers.

https://lexcomply.com/blog/the-real-estate-act/
Latest Answer: i don,t think so that residential property prices slow down due to demonetization .the new real estate bill bring clarity for both property buyers and sellers and government also finding flexible method for solve the problems of real estate developers
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Q: The Real Estate Agency of India passed the Real Estate Regulatory and Authority (RERA) Act in March 2016. This act has been made in accordance to increasing complaints against the builders or promoters andhttp://www.reraconsultants.com/ the real estate agents. These complaints are mainly regarding the late possession of a house to the buyer, faults in the society,
Latest Answer: Major Benefits of the RERA Act for Buyers Right to information to property. Standardized Carpet Area. No delays in the project. There is more transparency in the system.
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Q: The problem is there are some clear differences between RERA and the states laws, which will affect the interest of the home buyers directly.
Latest Answer: Hi folks, The problem is point up when there are some clear differences between RERA and the state laws, which will affect the interest of the home buyers directly.For example, the RERA says if you are charging more than 10% of the value of the property as advance payment, then the document must be registered. On the other hand, the Karnataka Apartment Owners Act says, the document needs to be registered if the advance is 20%.
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Q: During the initial change after the real estate regulatory bill comes to force, there will a liquidity issues for the real estate developers, particularly for the small players.
Latest Answer: Many promoters are also using RERA Compliant services to do their referrals legally. Loyalie is one such platform which makes referrals legal and hassle free for all. Loyalie has extensively worked with real estate companies across all India helping them ease their problems. The platform allows easy tracking and monitoring of all referrals from a single dashboard. It is easy to use and a very innovative solution under new RERA guidelines. Click here if you as a promoter want to beat your competitors and make your referrals legal.
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Q: Developers are hoping that real estate sector will be granted infrastructure status to boost affordable housing in this year's Budget.
Latest Answer: Hi folks, If i am not wrong then i think that our Finance Minister should announce a specific date for the implementation of GST. This major reform will give the industry a very clear taxation structure and induce a major sea change for the logistics architecture, since logistics will be driven by cost and not by a regulatory system.
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Q: Now, there are many guidelines to be followed by builders/developers while constructing, launching and promoting new residential projects.
Latest Answer: Hi Rakesh, I heard that housing and poverty alleviation ministry has prepared a Model Tenancy Bill, expected to be placed before the cabinet, that is aimed at an authority to register tenancy agreements with a special court to consider disputes. We should not ignore rental issues which a tenant has to face during rent a house. They have to pay huge amount a s a security deposit to the flat owners.
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Latest Answer: Hi Suresh, As per Pradipta Kumar Biswasroy, president of Real Estate Developers' Association of Odisha, "Area cost has gotten to be high even in level II and level III cities. So, if a developer deposits 70 per cent in the designated record, one will be left with no leeway to operate. It would mean virtual shutting down of shops by numerous players.
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Q: How Indian Real Estate Market will likely fair in 2015?
Latest Answer: Hey Guy's The Union Budget 2015 may have disappointed most the builders and the developers around the country as the finance Minister did not announce any measure to benefit either demand or supply in the sector. But the increase in service tax can effect the market too. The only positive thing that come out of the budget 2015 for real estate was the tax clarification on REITs. But the market participants will always hopeful and have a positive outlook for the year.
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Q: The NDA Government is planning to introduce a extensive real estate regulation bill to protect the interests of the buyers as well as to regulate the industry
Latest Answer: But decision is yet to come Subramanya sir.....and waiting for the finger crossed... Now, housing projects on more than 500 sq-mt would have to register with the proposed real estate regulator as opposed to the threshold at 1000 sq-mt that was fixed earlier. Also, the interest rate payable by the promoter or allottee in case of any default by either would be the same now.
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