Real estate bill
In what could come as a relief to real estate players, the government committed to ensure the Real Estate Bill won’t have over-regulatory provisions but would remove “mistrust” between developers and buyers. Housing minister Venkaiah Naidu said this move would enable the growth of real estate sector that has huge employment potential. He added that [...] Continue Reading »
The Real Estate (Regulation and Development) Bill, 2013, is likely to be taken up for consideration in the Winter Session of Parliament, said a senior government official who attended a high-level meeting on the subject on Wednesday. The meeting of the Union housing and urban poverty alleviation ministry was convened in the run-up to a [...] Continue Reading »
Renowned property consultant and market research expert Jones Lang LaSalle recently conducted a “Global Real Estate Transparency Index” survey for the countries of the Asia-Pacific. According to the survey, Indian real estate market ranks lowest when it comes to transparency in all real estate related matters. The main contributors behind this abysmal performance of the [...] Continue Reading »
The housing ministry plans to include commercial and industrial real estate under the Real Estate (Regulation and Development) Bill, 2013 which is expected to be brought to the Parliament in the monsoon session. The ministry official mentioned that a proposal would be soon sent to M Venkaiah Naidu the housing and urban poverty alleviation minister, for approval and then [...] Continue Reading »
Real estate players apparently have a lot of expectations from the new Government headed by Narendra Modi. Though Modi is yet to officially assume charge as India’s new Prime Minister, the country’s realty sector is hopeful of several realty-specific policy initiatives under his governance. The policy initiatives which the real estate sector is anticipating from [...] Continue Reading »
The much-awaited Real Estate (Regulation and Development) Bill has obtained clearance from the Cabinet on 4th June. The Bill is expected to bring in transparency in the nation’s real estate sector with tighter norms for selling projects and preventing property fraud cases. This Act may be called as the Real Estate (Regulation and Development) Act, [...] Continue Reading »
The proposed Real Estate (Regulation and development) Bill has made carpet area a compulsory feature for approving building plan. The decision was made by top government officials at Association Chambers of Commerce and Industry in India (ASSOCHAM) event held in New Delhi. Now, the development authorities and municipalities will have to clear building plan or [...] Continue Reading »
The government is likely to come up with a Real estate Bill, which is pending in the parliament since 2009. The sector is in urgent need of this bill as the industry is known for foul business and less transparency are practiced widely. The real estate sector contributes five to six percent of the country’s [...] Continue Reading »
In a move to bring in relief to the developers, the Ministry of Housing & Urban Poverty Alleviation decided to keep the commercial offices and shops out of the purview of the Real Estate ( Regulation & Development) Bill. According to officials, the bill will only regulate the housing sector. For now, the current draft [...] Continue Reading »
Property buyers will have many reasons now to cheer. The Real Estate (Regulation and Development) Bill is in its planning stage and Parliament is likely to discuss the same in its coming budget session. As per real estate experts, a strong law will be put forward to stop unethical and unscrupulous practices in the real [...] Continue Reading »
