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Cabinet approved for amendments to Real Estate Bill
Q: Good news for property buyers! The Union Cabinet has approved the Real Estate Development and Regulation Bill along with certain key amendments.

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Latest Answer: But decision is yet to come Kaushik.....and hoping for the best... 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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Noida realtors welcomes the regulatory bill
Q: Please discuss about the new bill that is being proposed by the center and the formation of the real estate regulatory authority .....

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Latest Answer: Developers also said that some provisions that are detrimental to the realty sector should be removed. The authority will have to ensure that the government quickly provided approvals from its end as well as make all stake holders in a project accountable. They further suggested that banks and customers should share responsibility as well..
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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

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lays down norms to help home buyers
Latest Answer: 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
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