Any updates on new realty regulatory Bill?

Q: Hi, Haryana govt is planning on a new Bill.. Do anybody has any information on this?

anish, Chandigarh

18th February 2013

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Hey guys, as per the regulatory Bill, every promoter shall submit an application to the Authority for registration of the project... Documents like enterprise details including name, address, type of enterprise (proprietorship, societies, partnership, companies, local authority) and particulars of registration; an authenticated copy of the commencement certificate from the competent authority, etc. have to be enclosed by the promoters... This proof will give a hope that the project and the builder can be trusted.. isn't this a better idea..

Aveek Paul,

21st February 2013

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Once the new system is applicable, no promoter shall book, sell or offer for sale, or invite persons in any way, to purchase any property without registering the real estate project. This is a great thing to remove frauds. Without registration nothing could be done. I hope it will make the deals easier to trust and invest for buyers.

Samrat,

21st February 2013

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I guess, it will be buyer favourable. There will be more transparency in the system which will nto builders to cheat buyers with fake promises..

Sujan Mitra,

21st February 2013

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Thanks for the info. What are the plus points of the Bill? Any idea? Will that be buyer favourale or builder favourable?

Gurmeet,

21st February 2013

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Hi Anish , yes Haryana is coming up with new regulatory real estate bill.The document of the draft Bill has been uploaded in the website http://www.tcpharyana.gov.in for public scrutiny.With the establishment of HRERA, it is expected that the sale of immovable properties will be carried in an efficient and transparent manner. After the draft Bill gets approval, an Act would also be notified.

Neelima, Faridabad

21st February 2013

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