RERA will lead to a big shift in the coming yearsbut a lot more needs to be done The green shoots of recovery are visible in the Indian economy. Policymakers have been pro-active in initiating reforms to strengthen the various sectors to augment gross domestic product, or GDP, growth. The initiatives of the Central government …
Tag Archives: RERA India
Two-third consent of buyers must for any changes in sanctioned building plan under RERA
By issuing an advertisement/notification in the newspaper (when possession has not yet been handed over), a city authority has tried to get into the shoes of the builder (by issuing a notification on the builder’s behalf) which is contrary to the law under Section 4 (4). Even if the authority wants to get such a …
It is crucial to pay close attention to the construction agreement
While the Real Estate Regulatory Act (RERA) is expected to provide more clarity to apartment buyers, it is important that you be wary of the following clauses in a construction agreement: Penalty clauses In case of any payment defaults by the buyer, the agreement usually states a penalty between 18 and 24 per cent per …
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DLF could look at Tweaking Residential Biz Model post notification of RERA Rules
Real estate firm DLF is waiting for the final rules under the real estate regulatory act to be notified to see how it can tweak its business model going forward, said Saurabh Chawla, senior executive director (finance) at DLF during a call with analysts. “We will have to see if we should run our residential …
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Builders prioritising RERA compliance
It is clearly seen that The Real Estate Regulatory Act (RERA) will gradually bring in the much-needed limpidity in real estate dealings to improve the confidence of homebuyer. Over The concern of RERA coming, Builders of Delhi/NCR have started adapting and reworking on builder-buyer agreements. Developers are also working on setting up accurate time frames …
Buyers hopeful of timely possession after RERA
Around 40% of buyers/builders felt that implementation of RERA would help in timely delivery of projects since 70% of the sales proceeds will be set aside in an escrow account by developers and also eliminate non-serious players from the sector, says a new survey. Many real estate developers say RERA legislation is a step in …
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