How the revised real estate bill impacts the home buyer

The NCR Home Buyers’ group which has been at forefront of the agitation against the amended real estate bill has released a comparative study of the old and new clauses

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Puja Bhattacharjee | May 6, 2015 | New Delhi


#real state bill   #ncr home buyers   #real state bill changes   #real state bill amendments  

Much of the budget session of the parliament saw ruling BJP clashing with the opposition including Indian National Congress over the land bill. The battling NDA government and the opposition clashed again after introduction of the real estate bill in the Rajya Sabha on May 4. Following protests the bill was put off indefinitely after a united opposition insisted on sending it to a Select Committee of Parliament in Rajya Sabha where the ruling NDA is in a minority. Earlier on 29 April also, the government was forced to defer the bill after opposition insisted on sending it to a Select Committee for proper scrutiny.

A comparative study of the old and new clauses


Congress vice president Rahul Gandhi had met with aggrieved home buyers of the national capital region and declared his support for a robust real estate bill. He accused the government of making the real estate bill into pro-builder at the expense of middle-class flat buyers.

“I learnt something today. So far, I used to think that only farmers, labourers and tribal are suppressed in land matters. But today I learnt that the middle class is also suppressed),” he was quoted by the Indian Express.

The real estate bill introduced in the Rajya Sabha has made several amendments. It has diluted the definition of carpet area and introduced ‘rentable area’ as defined under the National Building Code, 2005. The penal clause in case of delays has been relaxed. The builder can now commence the project while the scrutiny of the project is still on. In other words, he can start booking without prior registration with the regulatory authority.

The NCR Home Buyers’ group which has been at forefront of the agitation against the amended real estate bill has released a comparative study of the old and new clauses. The study is attached here. The group has been staging frequent protests against delayed possession, realtors changing plan without consulting with buyers, increasing super area among others.
 

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