Real Estate Bill Soon to Become a Reality

The much anticipated Real Estate (Regulation and Development) Bill was passed in the Rajya Sabha on Friday after which it has moved to the Lok Sabha and to the president for approval. Only after it gets assent of the President, it will become a law.

The Real Estate Bill has been a topic of discussion for the last 2-3 years. It is aimed at making the real estate business in India more regulated and transparent and make it easier for the buyers and builders to deal with each other. The realty sector lacks an organized way of doing business, thus it needs a regulating body. Now that the bill is in the hands of the parliament, market players are expecting that it will soon be out in the market as a law.

Real Estate Bill Soon to Become a Reality

Real Estate Bill Soon to Become a Reality

There are a few aspects of the market that will be affected after the bill is passed. Let us talk about these aspects in some detail. [Read more…]

How the New Real Estate Bill Will Be Helpful For NRIs

The Modi government has pledged to organize the face of realty sector and give it an industry status. In that move, the real estate bill has already been drafted and passed in the cabinet. The bill will soon be discussed in the parliament’s next session and will become a law after being signed by the President of India. The Union Cabinet has already approved of the amendments made in the Real Estate Bill, 2013 making way for greater activity in the real estate sector and hassle free work.

How the New Real Estate Bill Will Be Helpful For NRIs

How the New Real Estate Bill Will Be Helpful For NRIs

But what is the crux of the bill? How will it benefit both developer and buyer? How will it help NRIs?

A Review of the Bill

The Real Estate Bill is significant as it aims to act as a protective cover for the consumers and establish regulatory bodies at the center and states for ethical and transparent business practices in the real estate sector. The move is seen as a fundamental plan to seek and ensure greater accountability towards consumers in this notorious real estate sector. [Read more…]