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Yatish Rajawat

Real estate bill and new or existing buyers

I wanted to share the real estate regulatory bill with all of you as it affects every home buyer, new or existing. Buying a home is the biggest financial decision in life and it was begging for regulation for years. Now the government has passed the bill .
This was the first amendment to the original bill of 2013 by UPA
http://pib.nic.in/newsite/PrintRelease.aspx?relid=118039
I will post my views on the changes and highlights of the bills but if you have any views or comments on it do share it. more  

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Shashi Shah (social worker)
THE ADVT WHICH MISGUIDE THE PUBLIC LIKE AREA 2200 SQ FT BUT ACTUAL 40% LESS INSTEAD MUST WRITE CARPET AREA OF THE PREMISES SO PEOPLE DONT MISGUIDE more  
R Venkatesh Govind (No community title please)
The biggest problem for citizens is that builders collect money, then delay the project. The buyer, though, keeps paying the banks interest and principal. Any idea if the builder is made liable for this? Or is this one more show by the Govt without any results. All I see is some babus being added, not much more. more  
S K Virmani (S K Virmani (Citizen Empowerment))
It is surprised how keeping 70% amount in the eskrow's account has been reduced to now 50%. The reduction to 50% amount will still pose a problem for bringing construction to halt because of poor liquidity. Much clarification will come when the Regulatory Authority come out with rules and regulations about the hike in project cost, untimely clearances post completion, delayed penalty on the similar lines with what builder charges for payment defaults etc. more  
Dalip Kumar (ACTIVE IN SWADESHI JAGRAN MANCH DELHI UNIT)
appreciate Govt for passing Real estate bill.Understand govt will also soon clarify for current projects. more  
Sudha Amargol
It's good to know about the bill passing but not sure if this does not compel the builders to increase the cost of the construction, just to cover the penalty in case if they delay.!! more  
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