Government seems to have taken the right decision of passing the much required Real Estate Regulatory Bill.

1. PROS OF REAL ESTATE
REGULATORY BILL

2. AGENDA
 INTRODUCTION
 WELL-TIMED DELIVERY OF FLATS TO BUYERS
 ACCURATE PROJECT DETAILS IN DISCLOSURE
 ACTUAL CARPET AREA BECOMES MANDATORY
 ALL CLEARANCES ARE COMPULSORY BEFORE LAUNCHING A PROJECT
 WRAP UP

3. INTRODUCTION
 The Real Estate Regulatory Bill is applicable only
to residential projects.
 Commercial real estate property is not considered
under this regulation.
 There are many guidelines to be followed by
builders or developers while constructing,
launching and promoting new residential projects,
which indicate more power in buyer's hand.

4. WELL-TIMED DELIVERY OF FLATS TO
BUYERS
 There is common practice by builders of giving
false promises to deliver flat keys within one to
two years after registering in under construction
project.
 They are not able to deliver flats to buyers as per
decided time-line.
 Under Real Estate Regulatory Bill, strict
regulations will be imposed on the builders or
developers of the project to ensure that
construction is running on schedule and flats are
delivered on time to the buyer.

5. ACCURATE PROJECT DETAILS IN
DISCLOSURE
 There were instances in which developers have
promoted building projects with attractive
amenities and infrastructure in new projects.
 As per the bill, developers need to share project
plans in disclosure which will definitely be
delivered with the flat.
 There can't be any change at a later stage of
development by the builder.

6. ACTUAL CARPET AREABECOMES
MANDATORY
 Developers are selling flats on the basis of super
built area which includes common passage area,
stairs and other areas which is 20-30 percent
more than actual flat area.
 Buyer are not well-informed about actual area of
flat which is known as carpet area.
 Under Real Estate Regulatory Bill, builders need
to declare the actual carpet area of the flat in
promotion activities.

7. ALL CLEARANCES ARE COMPULSORY
BEFORE LAUNCHING A PROJECT
 Most builders offer flats at huge discounts with
pre-launch offer to attract buyers.
 Buyers are not informed about all clearances in
the project and there can be a risk of delay in
delivery due to issue of important clearances from
government.
 The bill clearly state that the developers have to
get all important clearances before they start
selling flats.

8. WRAP UP
 Government seems to have taken the right
decision of passing the much required Real
Estate Regulatory Bill.
 It's good to go through the standard parameters
to analyze real estate sector.
 There will be positive turnaround in real estate
sector and buyers will be benefited to find dream
home at affordable price on time.