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Real Estate Forum on Arun Jaitley

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Q: Earlier the benami transactions are defined as a “transaction where a property is held by or transferred to a person, but has been provided for or paid by another person”. This Act has amended this definition by to add other transactions which qualify as benami,

Latest Answer: Hi folks..... For your knowledge, i would like to mention few points that you property will considered as "Benami Property" in the eyes of law..... A transaction is considered as benami where a property is transferred to or is held by a person and the consideration for such property has been provided or paid by another person. In these cases, the property is held for the immediate or future benefit, direct or indirect, of the person who has provided its payment. Lok Sabha passed the bill on July 27 and Rajya Sabha gave its nod on August 2.
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Q: The NDA Government is treading carefully on the real estate bill, after it was forced to withdraw the land acquisition amendment bill.
Latest Answer: The government should not only think about providing homes to all but also make sure that builders take the right route to provide homes i.e. the building should be as per the norms and should have all the facilities and also should be free of legal hassles and the occupancy Certificate/no objection certificate should also be handed over to the society as soon as the building is finished so that they do not have to face hardships later on.
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Q: Is it right that Corporatisation of ports will offer immense elasticity in terms of fund-raising and expansion???
Latest Answer: Right Bikram, Roti, Kapda and Makan are the three basic needs of the people moves to Mumbai. You provide them Makan, they will arrange the rest of the two. He may not have resources to invest in property and he is not sure about how long he is going to stay in the city.
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