Saturday, May 16, 2015

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.


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