PropertyAngel | Property Management Bangalore, Bengaluru
  • Property Owners
  • Tenants
  • Refer a Friend
  • Propathon
  • Careers
  • Contact Us
  • Property Owners
  • Tenants
  • Refer a Friend
  • Propathon
  • Careers
  • Contact Us

Union Cabinet approves Real Estate bill ammendment

15/12/2015

5 Comments

 
Picture
In a previous post we had discussed the need to Regulate Real Estate in India. We are happy to see this slowly becoming a reality. There were several points of contention in the Real Estate bill, first proposed in 2013, and the Union cabinet has announced various amendments. Highlights below:
  • Applicable for both commercial and residential real estate projects.
  • Establishment of a 'Real Estate Regulatory Authority' in States or Union Territories (UTs) to regulate real estate transactions.
  • Mandatory disclosure of all registered projects,
  • Compulsory for builders to deposit 70% of the amount raised from buyers into an escrow account within a period of 15 days to cover the construction cost of the project. This prevents the builders from using these funds elsewhere. 
  •  Jail term of up to three years or penalty, or both in case of builders. 
  • Promoters are barred from changing plans and design without the consent of consumers.

We now await for the bill to be passed in the Parliament. 
​

5 Comments

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    August 2020
    July 2020
    June 2020
    May 2020
    December 2018
    March 2018
    November 2017
    October 2017
    September 2017
    August 2017
    October 2016
    July 2016
    December 2015
    July 2015
    June 2015
    March 2015
    November 2014
    July 2014
    May 2014
    September 2013
    May 2013

    Categories

    All
    Covid
    Mumbai
    Property Management
    Video Blog

    RSS Feed

 (c) 2023 PropertyAngel. All rights reserved. 
 Privacy Policy   ​
PropertyAngel is a leading property management company, headquartered in Bangalore. It is the most trusted property management company, that provides personalized tech-enabled services. 
CALL US: 91-7406484455 (also on whatsapp)
BANGALORE HEADQUARTERS:
PropertyAngel Management Pvt Ltd
570/571 16th A Main road,
Koramangala 3rd block,
Bangalore - 560034
India
www.propertyangel.in

Open Hours:
  • Monday-Saturday: 9:30am IST - 7:30pm IST
  • Sundays: 10:30am IST - 6:30pm IST

Useful links

  • The property Management Blog
  • How the Property Management Process works
  • How much do property managers charge every month? 
  • ​7 things to consider while selecting the Best Property Management Company
  • What does a Property Manager do?
  • Recommended format for Property Management Agreements
  • PropertyAngel Referral Benefits
  • How do I choose a good Property Manager? 
  • NRI property management services 
  • Zoho Case Study on Property Management & PropertyAngel award
  • Build a career in Property Management 
  • Rent a property managed by a property management firm. ​