Draft 'Union Territories without Legislature' Real Estate (Regulation and Development) Rules, 2016

Draft 'Union Territories without Legislature' Real Estate (Regulation and Development) Rules, 2016
Last Date Jul 11,2016 09:00 AM IST (GMT +5.30 Hrs)
Submission Closed.

Brief Background of the Real Estate Act, 2016 ...

Brief Background of the Real Estate Act, 2016

The Real Estate (Regulation and Development) Bill was passed by the Rajya Sabha on 10th March, 2016 and by the Lok Sabha on 15th March, 2016. The Bill as passed by the Parliament was assented to by the Hon’ble President on 25th March, 2016. The Real Estate (Regulation and Development) Act, 2016 was published in the Official Gazette on 26th March, 2016 for general information. Copy of the Act is available on the website of the Ministry of HUPA at the following link - http://mhupa.gov.in/writereaddata/Real_Estate_Act_2016.pdf

The Real Estate Act, 2016 aims at protecting the rights and interests of consumers and promotion of uniformity and standardization of business practices and transactions in the real estate sector. It attempts to balance the interests of consumers and promoters by imposing certain responsibilities on both. It seeks to establish symmetry of information between the promoter and purchaser, transparency of contractual conditions, set minimum standards of accountability and a fast-track dispute resolution mechanism.

Brief Background of the Draft Rules under the Real Estate Act, 2016

Specified sections of the Real Estate (Regulation and Development) Act, 2016 have come into effect from 1st May, 2016, including section 84 of the Act which provides that “the appropriate Government shall, within a period of six months of the commencement of this Act, by notification, make rules for carrying out the provisions of the Act” i.e. by 31st October, 2016. As per section 2(g)(i) of the Act, the Ministry of Housing & Urban Poverty Alleviation is the appropriate Government for Union Territories without Legislature.

In this regard, the Ministry has prepared the draft Rules on which the Ministry proposes to elicit general comments through the open forum for discussion on the MyGov portal.

Draft ‘Union Territories without Legislature’ Real Estate (Regulation and Development) Rules, 2016

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100
fightforreraka 4 years 2 months ago

4) In addition, the promoter shall disclose the detailed specifications of the amenities that are committed to Allottees and its current status and reason for the delay in handing over the amenities.

100
fightforreraka 4 years 2 months ago

3) In addition, the rule should be clear to make the Promoter to submit the details of the flat sold, names and addresses of the allottees, price at which it has been sold and shall disclose the *vacant flats available for sale either by the promoter and Land Owners ( who owns the Land for Joint development of the project ) * Vacant flat available means – Number of flats allotted to the Land owner/s and if no sale deed is executed )

100
fightforreraka 4 years 2 months ago

2) The work completion and work pending per centage certificate to be endorsed and certified by after Physical inspection by all the agencies that have given N O C at the initial level of plan approval documents

100
fightforreraka 4 years 2 months ago

In addition to the details as per Rule 3, the Promoter should also submit all relevant documents, file declaration and affidavits mentioning the details for the delay in completing the project, % of work completed and % of work to be completed, duration for completion of the pending works and amenities and in case of project completed 90% - 100% , the reason for not obtaining the CC / OC and the steps initiated to obtain CC/ OC & also submit MOU with all allottees.

300
Sudipto Bose 4 years 2 months ago

While the RERA bill is in the right direction, there are several issues that need to be addressed.
Unless these are taken care of, existing home buyers will continue to languish and the objective of giving a fair chance to appeal to aggrieved buyers will be completely lost. Hopefully we will be able to see some light after several years of neglect and suffering.

200
Abhay Upadhyay 4 years 2 months ago

Draft rule be suitably amended so as to plug loophole which presently exist. It will provide escape route to promoters of ongoing projects. There are other serious lacunae which will work against the buyers of even new projects. I seriously hope that our suggestions will be considered and incorporated in draft Rules in all fairness and to provide relief to millions of homebuyers.Thank You, Warm Regards, Abhay Upadhyay , National Convenor, Fight For RERA

2360
gaurav bhanot 4 years 2 months ago

In the unauthorised colonies like uttam nagar in delhi many builders construct 4 5 floory buildings. Many a times buyers are not aware of the fact that how many floors are allowed and they do purchase and later face many problems. So strict action needs to be taken against such builders and uniformity and tranperancy should b there that how many floors are allowed in an area. And these 4 5 floors in such areas like uttam nagar in west delhi are very risk too.

400
Col T P Tyagi 4 years 2 months ago

Rule 4::F original sanctioned plan and subsequent changes in plan be specified.
Rule 4(C): Specify the original time plan & revised future plan.
Rule 4(D): deduct cost of land & construction from Booking amounts and balance be deposited in separate account.
Rule 14 (2): many alteration must have been done without the consent of 2/3 Flat Buyers and hence in such cases the Flat Buyers should be financially compensated.
Rule 35: Compounding should be punished by jail term every time it is done