As Real Estate Regulatory Bill received the Cabinet’s
nod, Mumbaikars cheered. Property buying will no longer be a tedious
task for them.
There is no doubt in the fact that Mumbai
holds the tag of being the most expensive real estate market. Numerous
cases of cheating and forgery were gradually were the impertinent
characteristics of the market. Once the authority comes into action, not
just the builders but property agents too will be to get registered,
practice transparency and be answerable to the buyer.
No more project delays
No more project delays
If the bill gets passed in the parliament,
property experts are expecting better days ahead where projects gets
struck because of funding issues or objections from stakeholders. As per
the amendments, it is mandatory to disclose details of promoters,
project, layout plan, plan of development works, land status, status of
statutory approvals and disclosure of proforma agreement of all
registered projects, names and addresses of real estate agents,
contractors, architect, structural engineer, etc.
Other than this, it will be compulsory to
deposit 50 percent (or such lesser percent as notified by the
Government) of the amounts realized for the real estate project from the
allottees in a separate account in a scheduled bank within a period of
fifteen days to cover the cost of construction to be used for that
purpose.
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About us
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
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