7 Important Amendments in 2016 – Reality Round Up

Here is all you must know about the new amendments in the Indian Real Estate sector in 2016:

 

1) Real Estate (Regulation and Development) Act, 2016

This bill was passed by the Parliament on March 15, 2016, and the Act came into force on May 1, 2016.

From a common man perspective, it was meant to address some of the pain points of a typical property buyer:

  • What is the recourse when a project hand-over is delayed by the builder/promotor?
  • How does one verify that a specific property meets the statutory norms as set by the local civic bodies?

Read More