The
Real Estate Bill will be applicable only to new real estate projects. Those
projects that have already been launched &
sold will not come under its purview. Given
the high number of new projects that have been launched in the past couple of
years,most of which have y…
Real Estate Bill : Licences Compulsory for Real Estate Brokers..!
The
Real Estate Bill also makes it compulsory for real estate agents to register
& get licences before they begin to
conduct business. Mr.
Yashwant Dalal, President, Estate Agents Association of India, believes that
this is a positive step by the government which will mak…
Real Estate Bill : Canceling a Sale Becomes Difficult..!
Developers
/ promoters will not be allowed to
cancel an agreement for sale unless they have sufficient cause to do so. Says
Mr. Ganesh Vasudevan, CEO, Indiaproperty.com: The developer / promoter will
need to give due notice to the parties to the agreement. He will also have t…
Real Estate (Regulation and Development) Bill 2013 : Misleading Property Buyers Will Invite Punishment..!
Developers
will be prohibited from advertising or / marketing their projects before getting all the necessary clearances and
obtaining a certificate of registration from the authority .Says Mr. Ganesh
Vasudevan, CEO, Indiaproperty.com: Developers will not be able to collect …
Real Estate (Regulation and Development) Bill 2013 : Separate Bank Accounts for Each Project..!
The
Bill also makes it mandatory for developers to maintain separate bank accounts
with scheduled commercial banks for each of their projects. At
least 70 % of the corpus raised for the project from buyers (at intervals) will
have to be deposited within 15 days of realisatio…
Real Estate (Regulation and Development) Bill 2013 : Mandatory Disclosure of Project Details..!
The
Real Estate Bill will make it mandatory for developers / promoters to disclose
details, including minor ones, about their projects on the company website. Says
Niranjan Hiranandani, MD, Hiranandani group of companies: The
details will include specifications, like the lay…
Real Estate (Regulation and Development) Bill 2013 : Creation of a Real Estate Regulator in Every State..!
The
approval of the Real Estate Bill by the Cabinet is a small victory for India's
long suffering real estate (property)
buyers. Last
week, the Union Cabinet approved the draft Real Estate (Regulation and
Development) Bill 2013 that allows for the creation of a regulator …
Professional Real Estate Broking Firm: ProBro Launched in Chennai City..!.
ProBro, a professional real estate broking company launched
in the Chennai city ● To help clients in organized & hassle-free property transactions across
India ● ProBro Real Estate Ventures Private Limited, a
professional realty company for hassle - free property transac…
Mr. C.N. Govindaraju, MD, Vaishnavi Group, President of CREDAI Bengaluru..!
CREDAI
BENGALURU has elected new office bearers at its 32nd annual general meeting
(AGM). Mr
C. N. Govindaraju Managing Director,
Vaishnavi Group, has been appointed President of CREDAI Bengaluru. He succeeds
Mr. R Nagaraj who has been recently elevated as President of CRED…
Oriental Bank of Commerce: Cuts Fixed Deposit Rates by 0.25%
Oriental Bank of Commerce (OBC) on recently (June 10, 2013) slashed interest rates on term deposits of less than Rs. 1 crore across various maturities by 0.25%. The state owned lender slashed interest rate on domestic term deposits maturing between 270 days to less than one y…
