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

pujab

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.
 

Comments

 

Other News

“Indians, yet treated like outsiders”

Moving to Delhi-NCR for education can be an exciting experience for students from Northeast India. It gives us a chance to meet new people, experience a different culture and become more independent. But living away from home also comes with challenges that people who have not experienced them may not al

Import duty on major edible oils cut

The government has reduced the Basic Customs Duty (BCD) on major imported crude edible oils with a view to moderating domestic edible oil prices, providing relief to consumers and mitigating inflationary pressures arising from the sharp increase in international edible oil prices.  

From pyramid to platform: BRICS agenda for Global South

In his opening address at the 18th BRICS Summit in New Delhi on September 12, prime minister Narendra Modi did something India`s diplomacy has been building towards for three years: he moved the ‘Voice of the Global South’ from a slogan to a work plan. Addressing the leaders, he argued that t

How to realise the full transformative potential of PM-JAY

The Pradhan Mantri Jan Arogya Yojana (PM-JAY), a welfare scheme which covers approximately 45 crore beneficiaries across India, provides cashless health cover of Rs. 5 lakh per family per year. It is the largest health insurance scheme which helped crores of poor families by reducing out-of-pocket expend

The missing men in India`s family planning story

Every pregnancy requires two people. Yet India`s family planning programme continues to ask only one of them to bear almost all of its medical consequences. The newly released National Family Health Survey-6 (2023-24) confirms just how entrenched this asymmetry remains: 36.5% of currently married women a

`Development must be judged beyond GDP, with rights and justice at core`

Delivering the IXth Chief Justice M.C. Chagla Memorial Lecture on ‘Human Rights and Sustainable Development Goals’, in Mumbai Friday,  former Chief Justice of India Bhushan R. Gavai questioned whether conventional economic indicators such as gross domestic product (GDP), national income,

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter