Real Estate Regulation Plan
The Government is in final stage of Real Estate Regulatory Bill, under considerations of parliamentarians
- Each Project to be registered
- Consumers to get access to all crucial information, including approvals
- Ongoing projects without completion certificates also to be covered
- Developers need consent of 2/3rd of customers to change project layout
- More home buyers to get benefit
- Project developers to deposit 50% or 75% amounts from buyers in escrow account.
- It may ensure timely project completion in the absence of diversion of funds.