Real Estate Regulatory Bill – The Home Buyers Protection

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Real Estate Regulatory Bill – The Home Buyers Protection

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Buying a house is the single greatest peril that a commonplace man endeavors and this show is overflowing with threat and the plebeian needs to rely on upon the weak laws of value without a strict controller. – PowerPoint PPT presentation

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Title: Real Estate Regulatory Bill – The Home Buyers Protection


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Phone - 080 40155666, 8494 9301 72 Email -
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Real Estate Regulatory Bill The Home Buyers
Protection
http//gruhakalyan.com
2
Phone - 080 40155666, 8494 9301 72 Email -
contact_at_gruhakalyan.com
The Home Buyers Protection
  • Real estate regulatory bill has been pending for
    few years even as there is a need of reforms in
    the realty sector. The real estate sector has
    been a large contributor of GDP of the nation.
  • There is a great problem of homelessness in many
    a sector of the nation. It is also true that a
    home buyer invests his or her life time savings
    in buying a home and there are lot of problems
    and hassles that he or she has to face in many an
    instance.
  • Buying a home is the single largest risk that a
    common man undertakes and this act is full of
    risk and the commoner has to rely on the weak
    laws of justice without a strict regulator.

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Phone - 080 40155666, 8494 9301 72 Email -
contact_at_gruhakalyan.com
  • The real estate regulator attempts to ease the
    common individual from all these hassles.
  • For the last two years there have been heated
    debate and it is expected that it will be passed
    in the parliament this time in the budget
    session.
  • There is a contrasting paradox in the Indian real
    estate sector. There is a huge shortage of
    housing and at the same time there is a huge
    unsold stock also at the backdrop.
  • The nation is in the process of a rapid
    urbanization and estimates point out that urban
    population will become more than double to about
    a figure as high as 900 million in the next three
    decades.

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4
Phone - 080 40155666, 8494 9301 72 Email -
contact_at_gruhakalyan.com
  • At this present moment the current population
    also does not have a proper and adequate housing.
    An estimate in the year 2012 points out that the
    shortage is at a figure which is nearly 19
    million units.
  • If any changes has to be brought and this
    shortage has to be lessened then there has to be
    reformative measures to clear the mess of the
    Indian real estate.
  • The bill seeks to set few of the standards in the
    contracts between the seller and the buyers.
    Apart from bringing penalty measures to the
    delinquent developer the bill also proposes to
    bring transparency which is a rare phenomenon in
    the real estate industry.

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5
Phone - 080 40155666, 8494 9301 72 Email -
contact_at_gruhakalyan.com
  • Transparency will come about to a certain degree
    if the promoters and developers have to upload
    the project details on the website.
  • There has been enough regulation in the new bill
    to protect the common buyer who would not feel
    deceived or cheated after the possession of the
    house.
  • The bill has provisions that a part of the money
    duly paid by the consumer has to be secured for
    the construction purposes in a separate bank
    account.

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6
Phone - 080 40155666, 8494 9301 72 Email -
contact_at_gruhakalyan.com
  • The new bill also proposes to have title
    insurance on the land because of the uncertainty
    that exists in India on the titles of land.
  • The scrutiny of the bill by the two
    parliamentary committees has already been done
    and its expected that it will be passed with no
    delay.
  • The real estate regulatory bill is surely an
    important step in clearing the mess of the real
    estate market and brings in a regulation and
    protection for the common consumers.
  • The experts opine and the facts suggest that
    often the state governments play a derogatory
    role and create lot of problems also.

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7
Phone - 080 40155666, 8494 9301 72 Email -
contact_at_gruhakalyan.com
  • The estimates suggest that currently there are
    about 40 state and central departments that the
    developer has to take approvals from. This
    essentially leads to unnecessary delay and an
    obvious escalation of costs.
  • The projects of the central government for
    providing universal urban housing have compelled
    the states to initiate reforms so that they can
    access the funding from the centre.
  • The experts and the market trend watchers say
    that without the proper reforms at the state
    level the ambition of the central government to
    provide housing to all the urban dwellers will
    not be possible.

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8
Phone - 080 40155666, 8494 9301 72 Email -
contact_at_gruhakalyan.com
  • Along with that the measures like FDI relaxation,
    reduction of loan rates by the RBI and the
    ongoing Real estate regulatory bill were few of
    the measures.
  • But one thing that comes out of the arguments
    that we advance as per the current situation is
    that the property that would be the best buy
    would not be cheaper at all.  
  • Remarking about the improvement of sales the
    expert realtors remark that in the 2nd half of
    2015 the sales figures of the companies with a
    strong reputation of quality and timely delivery
    have improved considerably.

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9
Phone - 080 40155666, 8494 9301 72 Email -
contact_at_gruhakalyan.com
Property Buying Tips
  • Pre-launch Flats Vs. Ready-to-move Apartments
  • Now is the right time to buy a house or property
    in Bangalore 
  • How to buy a flat being Cautious to avoid
    Problems
  • Increase of Smaller Homes in Indian Realty Market
  • Overview of Bangalore Real Estate Market at a
    Glance
  • The accentuating prospects of Devenahalli

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