Today
Modi Government will try to pass real estate Regulatory Bill (RERB) in the
Rajya Sabha.
To
understand the bill we have to understand some basic points of this bill given below-
- After passing of this bill all developer has to register their project to the real estate regulator it means builder cannot collect money without some confirmation and all the builder has to stop taking money on soft launch or at very initial stage.
- Builder has to give completion date it means builder cannot hold the project by their comfortableness.
- At least 50% of booing amounts has to deposit in separate bank account which would be use in that project means builder will abide to complete the project but currently mostly builder take advantages and use collected money in another projects.
- Current real estate market is in horrible stages where builder has lost there trust, investor as well as user no one is confident about builders track. Everyone is thinking about builders are cheating.
- I (as owner of Aditya Estates) wish after this bill this gap will short out and real estate market again would be on track.
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