Big Bytes

Expert Quote on Real Estate Bill makes it through

Please find below mentioned quote given by Mr. Shubham Jain, Director JP Infra on Real Estate bill makes it through Rajya Sabha
​The new real estate bill, cleared by the cabinet, is being hailed equally by the home buyers and developers alike as it will lead to consolidation of the industry and will pave way for growth for the industry in a well defined regulatory framework. The implementation of the provisions of the bill, if done efficiently, will boost confidence of the buyers, lenders and investor, which is crucial for long-term growth of the realty sector.

There are many provisions in the bill such as prior registration of projects and agents with the regulator, information transparency about booking and construction, launch of projects only post receipt of all approvals and the restriction on change in plans without consent of the buyers, escrowing are positive steps that could help buyers.

There is a likelihood that the number of project launches will come down temporarily and so will the supply and inventory as a result of immediate impact of the bill. However, new launches will largely depend on the financial capacity of the developers and the demand created as a result of the new provisions. The bill is also likely to create positive grounds for more joint venture projects with land owners in case of any shortfall in surplus cash availability. The provision in the draft bill to escrow a portion of the sales proceeds for construction purposes will ensure timely completion. “

Leave a Reply

You may also like:

Corruption Economy Investment Law / Legal

Proudly wearing a certified CIBIL credit score tattoo, issued by Mafia Capitalism?

The entire apparatus of government, police, judiciary and prisons providing enforcement and surveillance. Instead of taxing the rich to generate money to build and maintain things like schools and roads, our government actually borrows money from the banks and the public pays the interest on these loans

Read More
Education Law / Legal Lifestyle Linux People Software Technology World

How to stay safe from Email Server Compromises & Data Scams?

Avoid using tools like mobile apps or fancy desktop apps for email send / receive and other critical transactions.

Read More
Infrastructure Linux Software Startup Technology Telecom

Should you Transfer a Domain or Change Name Servers to secure your digital assets?

As domain name registration is a separate service than website hosting, it is not required to register or transfer your domain to to use our hosting services. Ignore alarms, a domain owner is always in full control with

Read More