Logo
Govt of India
Logo
bg
bg
bg
PMAY

 

Rules for Real Estate Act finalized

04 Oct 2016

rulesNEW DELHI: The Center has finalized the rules for Real Estate (Regulation and Development) Act, which will be conveyed to the states soon, permitting them to set up regulators for the sector, Union Urban Development Minister M Venkaiah Naidu said on Monday.

Parliament had passed the bill in March, to manage the real estate sector, bring transparency and help protect customer interests.

"The Real Estate bill has been approved and we have finalized the rules as well. Now, we will convey to the states quickly and the states have to appoint regulators within a period of six months... it will be a reality now," Naidu said on the sidelines of 'India Habitat III-National Report' release event.

Emphasizing that the Act brings in transparency and accountability in the real estate sector, he urged the private sector to join hands with the Centre to meet the shortage of houses in the country.

"This is a regulation and not strangulation. We want the private sector to join in a big way to take on the challenge of housing shortage in the country," he said.

The Real Estate Act is touted as a vast change measure to control the vast real estate sector and bring order in it.

It will set up state-level Real Estate Regulatory Authorities to regulate transactions in both residential and commercial projects and ensure timely completion and handover of those. It will likewise be required to dispose of complaints within 60 days.

Among other provisions, the Act restricts unaccounted cash from being pumped into the sector and from now, 70 % of the money has to be deposited in bank accounts through cheques.

By Sanjay Bansal | Founder & CEO | Affordable Homea India

Pareena Laxmi Homes

Pareena Laxmi Homes

Discuss on this Topic

Pareena Laxmi Homes

Latest Real Estate News


Final hurdle on Dwarka e-way off, to be ready by March 2018 13 Jan 2017
New Delhi: The Northern Peripheral Road, the 24-km long 8-laned expressway awaiting completion since 2012, seems to be finally on the home stretch Read More
PM Awas Yojana: Realtors hail increase in carpet area for houses; stocks up 17 Nov 2017
The Centre on Thursday approved the enhancement of the carpet area of houses for the middle-income group (MIG) category under the Pradhan Mantri Aw Read More
Cabinet nod for Rs 25,700 crore convention centre at Dwarka 11 Nov 2017
NEW DELHI: The Cabinet on Friday approved Rs 25,703 crore for development of an Exhibition-cum-Convention Centre at Dwarka here to put the national Read More
Get your home custom-made the way you want In Gurgaon. 16 Sep 2017
PAREENA Developers offering an option to get one’s home custom-made the way one desires. Customisation in India is no more restricted to Read More
Create jobs to boost commercial real estate 16 Jul 2017
Realty consultants want the state to do whatever it takes to attract big names in the IT sector as that will create more job opportunities Read More
Realtors must enroll under Madhya Pradesh RERA to get land registered 16 Jul 2017
  The local stamp and registrar office has received fresh instructions to ‘discourage’ property registration by builders and c Read More
Under Real Estate Regulation Rules state cabinet excludes realty projects that are complete 60% 09 Jul 2017
  The state cabinet on Wednesday cleared the long-awaited Real Estate (Regulation and Development) Rules, framed under the Real Estate Reg Read More

Trending News


Charges against Gurgaon realty firm Bestech India dismissed 09 Sep 2016
NEW DELHI: The Competition Commission of India (CCI) has released charges against Gurgaon-based realty firm Bestech India with regard to unfair terms Read More
Major boost to affordable housing in Delhi 01 Jun 2015
Affordable housing in the capital city of Delhi could get a major boost with the centre notifying norms for the land pooling policy, a decision welcom Read More
FDI surges after 'Make in India', up 46% at $62 billion 21 Jul 2016
New Delhi: overseas direct funding in the course of october 2014 and may this yr Grew 46 consistent with cent to USD 61.58 billion after the launc Read More
Noida Authority re-assigned  the work profiles of officials 06 Sep 2016
NOIDA: The Noida Authority on Monday re-assigned the work portfolios of many IAS and PCS officials including engineers and managers. The move follows Read More
Some Tips Need to Know Before Investing in Real Estate 24 Jul 2015
 7 Tips Everyone Need to Know Before Investing in Real Estate Why should entrepreneurs invest in the first place? Answer : To have enough money Read More
Residential property in Rs 2,500-5,000/sq ft range good investment: JLL 26 Jul 2016
New Delhi: People looking to buy houses should invest in homes inside the range of Rs 2,500-5,000 per sq ft sq ft as this charge tag provides protecti Read More
From December, CIBIL to give a free financial assessment report once per year 01 Aug 2016
By Sanjay Bansal founder of Affordable Houses India Mumbai: citizens will soon be capable of get a loose replica as soon as a year in their man or Read More

Lotus Homz Affordable Housing

Pareena Laxmi Homes

Zara Rossa

Value Added Services

 

Government Housing Scheme

 

Banking

  • Prime Minister Awas Yojana
  • Prime Minister Awas Yojana ( Gramin )
  • Samajwadi Awas Yojana
  • Deen Dayal Jan Awas Yojana
  • Mukhya Mantri Awas Yojna Rajasthan
  • Affordable Housing Policy 2013
  • Smart Cities Mission
  • DDA Land Pooling Policy 2018

Banking Partners

 

HDFC

  • Corporation Bank
  • HDFC
  • IDBI Bank
  • LIC Housing Finance
  • Oriential Bank of Commerce
  • Reliance Home Finance
  • Bank of Baroda
  • SBI Home Loan
  • ICICI Bank Home Loan
  • India Bulls Home Loan
  • Axis Bank
  • PNB Housing Finance