The growing insurgency in real estate market will be controlled by the new draft of law to be released soon. Looking to the various situation of deception the government step to safe guard the interest of the customer is hugely appreciated by the mass around the nation. If the bill is implemented then it will tough for the road side builders to collect money from their buyers and run away without making it complete. Each and every site of construction has to pass through the registration criteria to be called as a genuine piece of realty. It is surely going to help the buyers as many scams has been witnessed earlier regarding the property dealing.
After making it public the draft of the Estate Regulatory also commands that there will an authority to keep a sharp eye on these matters and will be heavily penalized on violation of any of the described norm of the regulating. Incase any one found for any misconduct of these act is made mandatory to pay back the entire advance amount of the buyer if it is already payed earlier. The process is on the fast track and might commence immediately after it gets to the winter season of Parliament.
Source: NIMMA BENGALURU
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