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Real Estate Bill: What’s in it for the buyers?

April 15, 2015 By AdminTagged With: property investment, property investment advice, property investment advisors, property investment blog, property investment company, property investment help, property investment in india, real estate, Real Estate Agent, Real Estate Bill, real estate blogs, real estate broker, real estate investment, real estate investment advice, real estate investors, real estate news, real estate online

Real Estate Bill: What’s in it for the buyers?Recently, the Modi Government amended the Real Estate (Regulation and Development) Bill 2013. Previously, the bill was only meant to safeguard the interests of residential home buyers. However, the approved changes in the bill incline it in the favor of the buyers and investors as well as the developers and cater to industrial and commercial properties as well.

The bill brought forward the issue of contract enforceability and made it clear to the developers that if they do not honor the contracts they have entered into, they must refund the amount to the buyers along with interests and other charges. Each state will have its own real estate regulator and all the commercial and residential properties will be registered with the regulator. Unregistered properties will not be considered genuine. Nor can the developers advertise or launch projects without registration. However, real estate projects that have already been launched will be covered. [Read more…]

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