KNOWLEDGE CENTER

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REAL ESTATE TODAY

Modern day architecture designs

The classic rebel to the traditional architecture is contemporary architecture.
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LOCATION FACT FILE

Knowing just the project isn't enough. Location matters.

‘East, west, home is the best!’ you have realized it and have tweaked it with two more words- ‘East west, your own home is the best!’
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BLOGS

Navaratri- Celebrating the woman power

Finally, the most awaited festival has arrived along with the fervour, fragrance,flavours and colours.
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NEWS ROOM

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WHAT'S NEW

Know more about Pune's new airport

The Lohegaon airport was in sync with the new airport project and will take five years to be ready.
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RERA AND YOU

RERA makes headway!

RERA seems to have come a long way and the good news is, it’s seems to have settle down in the realty industry.

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TAX AMBIT

GST in other countries

Goods and Services Tax- popularly known by its acronym-GST, has been a topic of much contemplation, rave and rant.
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CLASSROOM

BLOGS

FAQs

The Real Estate Act is intended to achieve the following objectives:

  1. Ensure responsibility towards allottees and protect their interest.
  2. Infuse transparency, ensure fair-play, reduce frauds and delays.
  3. Introduce professionalism and pan India standardization.
  4. Establish symmetry of information between the developers and buyers.
  5. Imposing certain responsibilities on both builders and investors
  6. Establish a regulatory oversight mechanism to enforce contracts.
  7. Promote reliable governor in the sector which in turn would create investor confidence.

Due to the lack of professionalism and standardization, the real estate sector has been largely unregulated. From the perspective of consumer protection, the recourse available therein is only curative, but not preventive. This has affected the overall potential growth of the sector. Hence the need for a regulatory law for the real estate sector.

The date when the real estate (regulations and development) Act become effective in the entire country. Each state and UT will have its own Regulatory Authority which will frame regulation and rules according to the act.

Since a long time, Real estate builders have been accused of an on time deal. This is due to diversion of deposits from buyers to other projects. Under RERA it is mandatory to hold at least 70% of the collection from investors and use it only for the construction of the associated projects this will reduce the delays. Plus, developers will be penalized in case of delayed possession.

Until now builders could get away with using low-grade building materials. Which in results transform the burden of repairing cost to homeowners in case of damages. Under the new regulations of RERA, the promoters of a project would be held responsible for any kind of structural, quality or workmanship defect for five years after the completion of the project. The promoter is liable to rectify the defects at his own expense.

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DID YOU KNOW




LATEST NEWS

Know more about Pune's new airport

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Knowing just the project isn't enough. Location matters.

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Modern day architecture designs

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Nothing is far from Mhalunge

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Maharashtra leads the way in RERA registration

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Low cost home means low down payment!

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RERA makes headway!

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GST in other countries

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12% GST on under-construction

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Understand the ‘Green’ quotient of your next home

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