Q 1)With a real estate regulation act at the centre and at the state level, will it lead to confusion, more re?
Q 1)With a real estate regulation act at the centre and at the state level, will it lead to confusion, more red tape and further delays in project clearances when it comes to residential property in Mumbai?
Q 2)What are the aspects where there could be overlapping/ duplication and how would this duality impact the end user or the flat buyer?
- Anonymous9 years agoFavourite answer
There will be inordinate delay in getting clearance and additional expenses, that will force the builder to cover those losses. Naturally cost will ultimately go up.
- jesenovecLv 44 years ago
even by using fact the kind real sources (regulation of progression) Act has laid out tricky regulations for progression of colonies and shape of residences, it has exempted progression of wind as much as a million,000 sq. metres from mandatory registration with the proposed regulatory authority. in accordance to the draft, “no such registration would be required, whilst the component of land proposed to be developed right into a colony does not exceed a million,000 sq. metres or the kind of residences proposed to be built does not exceed 4”. This exemption is seen as a circulate mostly to assist land progression for very own-use. The draft has of course elaborated the function, duty and responsibilities of promoters who undertake land progression. It has made it mandatory for a promoter who develops a real sources challenge to make available for inspection all records and suggestion to all and sundry who's proceeding to take a plot/development/apartment interior the challenge.