Real estate bill promises reforms

Published: January 12, 2013

On Wednesday, January 9, Union Housing Minister Ajay Maken said that the Real Estate (Regulation and Development) Bill is likely to come up in the budget session of parliament, which begins in February. The Bill, pending since 2009, will empower consumers and enforce discipline among property developers.
It proposes to set up an industry [...]

Posted under Buying Property, Indian Real Estate, Indian economy, Laws & Regulations, News, Zamanzar

Model Real Estate Act

Published: November 11, 2009

With the announcement of the much awaited Model Real Estate Act, by the Ministry of Housing and Urban Poverty Alleviation (MHUPA), the Real Estate sector seems to have become a little more disciplined and ethical. It’s now going to be an arduous task for the builders and developers to dupe the buyers by using misleading [...]

Posted under Laws & Regulations

Real Estate Regulation Bill: Boon for the buyers

Published: September 11, 2009

Perfidious builders can no longer conceal the real floor area of apartments they are selling to the buyers by juggling them between carpet area and super area. Government is working on a new Real Estate Regulation Bill that will set guidelines for builders and real estate developers. Mulling suitable amendments to the existing Rental Control [...]

Posted under Laws & Regulations

Super built up area & carpet area - What, Why and How!

Published: April 10, 2009

The terms built up area, super built up area, salable area and carpet area pop up again and again for an Indian real estate buyer. The apartment that is sold as a spacious 1500 sqft apartment, is actually not 1500 sqft if you count its actual covered area, or carpet area.
Definitions -
1. Carpet area - [...]

Posted under Buying Property, Indian Real Estate, Laws & Regulations

Real estate credit might get easier

Published: November 11, 2008

The Government is considering a two-pronged strategy to pull the real estate sector from its current morass and credit crunch. The strategy essentially revolves around reducing the risk element for banks in lending to the sector, where many foresee a slump. According to an official in the Prime Minister’s committee of officers set up to [...]

Posted under Laws & Regulations, News