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Real Estate Forum on Amendment In Real Estate Regulatory Bill

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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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the Real Estate Regulation & Development Bill of 2013 is taking final shape for approval.
Q: The Real Estate (Regulation & Development) Bill, 2013, drafted by the last union government has submitted for few changes and is now in final stages of being presented for approval by the present government.

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Latest Answer: But decision is yet to come.....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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Real estate regulation Bill coming soon, says Venkaiah Naidu
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

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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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Real Estate Regulation Bill
Q: I heard about real estate regulation bill, that the centre is hoping to bring in the twin states of Telengana and Seemandhra. Is this true guys? Will this bill be in favour of the buyers or the builders?

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Latest Answer: Good evening friends!!!!! It is noted that the Housing Ministry has accepted a proposal of a Parliamentary panel's recommendation on the Real Estate Bill to make the provisions stricter and increase the 50% threshold but not lower it. The Housing and Urban Poverty Alleviation ministry has also accepted all 38 recommendations made by the 21-member Rajya Sabha select committee which submitted its report last week.
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What can we expect from the real estate bill??
Q: What can we expect from the real estate bill??

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Latest Answer: Hey all, I think even the panel is waiting for this bill as they have not changed the penalty provisions of the Bill and retained the original proposal such as imprisonment of developers for any violation of the proposed law. It indicated that everybody want that the sale of plot, apartment or building in an efficient and transparent manner, to protect the interest of consumers in the real estate sector.
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Real estate regulation bill
Q: Did the real estate regulation bill got approved by Goverment or is it atill pending?

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Latest Answer: Hi Jeet Bhaskar, According to the present procurement, anybody purchasing more than 4 flats in a project is dealt with as a promoter. Then again, to get a answer for this pattern of some purchasing more flats and having imposing business model in administration of affairs, committee is suggesting that every single such purchaser will have 1 voting right same as different buyers.
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Real estate regulatory bill.
Q: What will happen if the central government implement the real state regulatory bill?

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Latest Answer: Hi Jeet Bhaskar, According to sources, the committee has concluded the suggestion to bring all projects constructed over more than 500 sq-mt or if nothing else 8 flats under the range of the proposed law. The proposals are liable to be submitted to the Parliament.
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Regulatory Bill for real estate sector.
Q: The real estate sector is demanding for a regulatory bill. Will it be helpful for the builders and the home buyers?

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Latest Answer: In what way this Real Estate Bill will help the home buyer?
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Builders claim new real estate bill an harassment bill.
Q: Why are the builders of several cities against the real estate bill 2011?

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Latest Answer: Good evening everyone, As per the current news, the Parliamentary Select Committee for the Real Estate (Regulation and Development) Bill 2013 is likely to push for more strict clauses that may lead to imprisonment of builders if they do not fulfill their obligations to home-buyers. That indicates that we are at the last stage to get the amended real estate regulatory bill.
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