What is the effect of 'Real Estate Regulatory and Development' Bill?

The 'Real Estate Regulatory and Development' Bill, which was briefly known as the 'Real Estate Bill' for many years, came into effect last year across the country. Maharashtra, West Bengal, Haryana, States and Union Territories have already implemented the provisions of the Bill. These laws are currently being implemented in Tamil Nadu. But in many states, it has been delayed to implement the full legal provisions of the bill. The bill has been delayed following the provisions of the law.

The last UPA government has been brought into the real estate regulatory and development bill. But the bill was widely opposed by those in the real estate industry. Among the BJP Many more amendments were made in the bill after coming to power. The revised bill passed last year. The central government's guidance is that each state should finalize and implement the provisions of the Bill.

That is, the state governments should create and declare the rules to enforce this Act. Accordingly, some states have created and implemented rules. The Government of Tamil Nadu has finalized the statutes in January last year.

The Real Estate Regulatory and Development Bill has a total of 92 laws. But only 59 of these laws have been implemented so far. The remaining legal provisions are expected to come into force within this month. However, many state governments have been delaying the completion of the tasks to implement the provisions of the law. So there is a delayed environment to enforce the legal rules.

The bill has been delayed by the end of April 2017 and the state governments have been burdened by the deadline. Some state governments do not move into the next phase of the provisions of the law. Due to this, the real estate regulatory and development bill that has to be fully implemented throughout the country is delayed. Thus, the interests of home buyers continue to suffer.

The bill states that the Bill will have to complete the completion certificate by the end of July and submit it to the Real Estate Regulatory Authority. But many state governments do not recognize this law. Studies indicate that they have been given permission for construction projects in the usual way.

There are numerous brokers in the real estate industry. These are just the mental, home sales and transactions. The central government's legal provision has been directed by real estate brokers to register their names before the end of July. There is suspicion that this regulation will be followed properly. It does not seem to matter how long it will last.One of the key provisions mentioned in the jurisdiction is that the Internet service should be launched for one year from the date of adoption of home buyers and buyers. But only Maharashtra and Madhya Pradesh have started such internet services. There are no specific information on the websites of these states. With the launch of internet services, buyers and home buyers can get the information they need from the website. But such services have been delayed without the start of most of the states.

Continued real-time regulatory and development bill continued for a variety of reasons, until it was finalized and passed to parliament. The bill is not yet implemented, as the bill of amalgamation is incomplete in states. The federal government has been pressing the state governments to speed up these laws. It may take at least six months to complete the above legislation, even if the state governments act on it. Even so, this Bill has been implemented in the States, but without any major benefit.

-RCS-

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