"Real estate bill is beneficial for homebuyers!"
With the approval to the real estate bill, there was quite an emotional upheaval in the real estate industry and most of the key players commented on the update. Post the real estate regulation bill, the property players hope to see a transparent and uniform environment. It was a debate on whether the home buyers will have benefit from the step or the provisions are very harsh on the developers. But what is the take of the home buyers? Will now their property buying process be less time consuming and more assuring? Makaan.com asked the end users directly as to whether they think that the real estate bill will be beneficial for them and the maximum people voted in affirmation.
The following are the benefits that the home buyers can expect from the real estate bill:
• Increased transparency and uniformity
• Strict guidelines on advertisement and prospectus will stop misguiding the buyers
• Provisions for claiming compensation for loss caused by misleading statements
• Selling based on carpet area
• A project cannot be launched until all the approvals from authorities are achieved
• Developers will be required to put project-related information on their websites
• Setting up of an appellate panel to take up disputes between buyers and builders
• Speedy resolution of issues such as delays and change in specifications
• Fewer possibilities of project delays being caused due to absence of necessary approvals
• A buyer can claim refunds if a project is delayed
Buying a home is one of the most significant financial investments that one ever makes; therefore, it is only advisable to do a proper market research and survey prior to finalizing anything. For more of such poll reports and to cast your vote in a poll, visit MakaanIQ.