Home       Top Rated       Submit Article     Advanced Search     FAQ       Contact Us       Lawyers in India       Law Forum     RSS Feeds     

Register your Copyright Online

We offer copyright registration right from your desktop click here for details.

Latest Articles | Articles 2014 | Articles 2013 | Articles 2012 | Articles 2011 | Articles 2010 | Articles 2009 | Articles 2008 | Articles 2007 | Articles 2006 | Articles 2000-05

Search On:Laws in IndiaLawyers Search

Mutual Consent Divorce in Delhi
We provide fast, cost effective and Hassle free solution.
Contact us at Ph no: 9650499965 (Divorce Law Firm Delhi)
File Caveat in Supreme Court
Contact Ph no: +9650499965

Main Categories
 Accident Law
 Animal Laws
 Arbitration
 Aviation Law
 Banking and Finance laws
 Case Laws
 Civil Laws
 Company Law
 Constitutional Law
 Consumer laws
 Contracts laws
 Criminal law
 Drug laws
 Dubai laws
 Educational laws
 Employment / Labour laws
 Environmental Law
 family law
 Gay laws and Third Gender
 Human Rights laws
 Immigration laws
 Insurance / Accident Claim
 Intellectual Property
 International Law
 Juvenile Laws
 Law - lawyers & legal Profession
 Legal Aid and Lok Adalat
 Legal outsourcing
 Media laws
 Medico legal
 Miscellaneous
 Real estate laws
 Right To Information
 Tax Laws
 Torts Law
 Woman Issues
 Workplace Equality & Non-Discrimination
 Yet Another Category

More Options
 Most read articles
 Most rated articles

Subscription
Subscribe now and receive free articles and updates instantly.

Name
Email




Published : December 23, 2016 | Author : lexcomply
Category : Miscellaneous | Total Views : 786 | Rating :

  
lexcomply
LexComply is a one-stop compliance management solution for practicing professionals and organization. It generates and send alerts for due date based, Ongoing and Event based compliances to the concerned official proactively. It serves as centralized repository of acts, rules, forms and other allied documents to make compliance efficient. It automates reminders, status reports, updates, task and compliance proof management. It also enables professionals to conduct Audit, Research,Due Diligence, Compliance Training and give opinion.
 

The Real Estate Act is a game changer, 6 things you SHOULD know about it

Feeling Trapped?

6 ways in which the Real Estate Act will protect you.

The Real Estate Act comes into force in 2016 and makes several provisions for the protection of buyers:

1. Mandatory to register with the Real Estate Regulatory Authority (RERA): All commercial and residential real estate projects with over 500 square meters or eight apartments shall register with the Real Estate Regulatory Authority (RERA) for launching a project, in order to provide greater transparency in project-marketing and execution. For on-going projects which have not received completion certificate on the date of commencement of the Act, will have to seek registration.

2. Escrow Account: The Act prohibits unaccounted money from being pumped into the sector and the money has to be deposited in escrow bank accounts through cheques. There was a time when the money of project for which the payment was taken, was invested in other projects which ultimately resulted downfall of market. This is now being curbed in this bill.

3. Clear Clauses: A major benefit for consumers included in the Act is that builders will have to quote prices based on carpet area and not super built-up area. The carpet area has been clearly defined in the Act to include usable spaces like kitchen and toilets.

4. Real Estate Regulatory Authorities: Real Estate Regulatory Authorities (RERAs) shall regulate transactions related to both residential and commercial projects and ensure their timely completion and handover. Appellate Tribunal shall adjudicate cases in 60 days as against the earlier provision of 90 days and Regulatory Authorities to dispose off complaints in 60 days.

5. Standard Agreement: Guidelines are being framed to have standard agreement by the builder with similar clauses so that the buyers are not cheated with clauses against them.

6. Provision for damages for non-completion: The provision for jail term for a developer who violates the order of the appellate tribunal of the RERA is three years with or without a fine. However, even the consumer courts are taking strong action against builders where interest rate between 10.9% to 18% is answered against builder for his delay and other deficiencies.



With demonetization, the property prices are expected to fall up to 30% and the builders are facing the heat. Therefore, this Act will become a crucial tool to protect buyers.

 




1 2 3 4 5
Rate this article!     Poor
Excellent    

Most viewed articles in Miscellaneous category
• Indian Partnership Act,1932
• Law on Parking Spaces
• Shops & Establishment Act of Punjab & Haryana
• Role Of Election Commission
• Restrictive & Extensive Definitions
• Judicial Review in India And USA
• Doctrine of Permissible Limits Under Delegated Legislation
• Tribal Laws & Customs in India
• Conversion and Reservation: Christian Dalits and the obstacles to social mobility
• Enabling Statute: Rules of Interpretation
• Is Poverty A Cause of Corruption
• Whistleblowers and their Protection in India
• Indian Legal Metrology System
• Land Reforms & Duty Of State
• Factory in The Factories act,1948
• Right to Innocent Passage in Territorial Sea.
Most recent articles in Miscellaneous category
• Santhara: A Path To Death
• Right to Privacy Violated- Aadhaar Card
• Supply under the Central Goods and Services Tax CGST Act
• What is GST How is It Beneficial for Citizens and NRIs
• Collegium system: darkness Unveiled
• Steps Pro and Cons of Getting K3 Visa for Immigration to US
• Nature and Evolution of Space Law
• Maternity Amendment Act
• Cow Vigilantes: Abusers of Humanity
• Poverty alleviation and the significance of MGNREGA
• Nature And Scope of Public Administration
• Freedom of Association
• Alternate Dispute Resolution vis-a-vis allied case laws
• Union Budget 2017-18
• E-Waste Management Rules 2016
• Delimitation and Drawbacks of Legal Philosophy

Article Comments

there are no comments...


Welcome!
Please login or register a new free account.

Random Pick
The most comprehensive definition of trafficking is the one adopted by the UN Office of Drugs and Crime in 2000, known as the “UN Protocol to Prevent, Suppress and Punish Trafficking in Persons, Especially Women and Children,” 2000 under the UN Convention against Transnational Organized Crime (UNTOC...

Statistics
» Total Articles
1478
» Total Authors
4388
» Total Views
18820402
» Total categories
41

Law Forum


Legal Articles

Lawyers in India- Click on a link below for legal Services

lawyers in Chennai
lawyers in Bangalore
lawyers in Hyderabad
lawyers in Cochin
lawyers in Pondicherry
lawyers in Guwahati
lawyers in Nashik

lawyers in Jaipur
lawyers in New Delhi
lawyers in Dimapur
lawyers in Agra
Noida lawyers
lawyers in Siliguri

For Mutual consent Divorce in Delhi

Ph no: 9650499965
For online Copyright Registration

Ph no: 9891244487
Law Articles

lawyers in Delhi
lawyers in Chandigarh
lawyers in Allahabad
lawyers in Lucknow
lawyers in Jodhpur
Faridabad lawyers

lawyers in Mumbai
lawyers in Pune
lawyers in Nagpur
lawyers in Ahmedabad
lawyers in Surat
Ghaziabad lawyers

lawyers in Kolkata
lawyers in Janjgir
lawyers in Rajkot
lawyers in Indore
lawyers in Ludhiana
Gurgaon lawyers

TOP

India's Most Trusted Online law library
Legal Services India is Copyrighted under the Registrar of Copyright Act ( Govt of India) © 2000-2017
 ISBN No: 978-81-928510-1-3