The Real Estate bill which is expected to be
taken up in Monsoon session of the parliament, promises more rights for buyers.
Cabinet will put the bill across very soon as inter-ministerial consultations
are over. The Union minister of housing and poverty alleviation Kumari Selja
revealed this on the sidelines of a conference in Delhi.
The bill is supposed to empower the appellate
by endowing powers of a civil court to regulatory authority and the appellate
tribunal. The bill also proposes to create the housing appellate tribunal
bestowed with adjudicatory powers. To make the transactions more transparent
bill requires developers to make disclosures regarding title over the land,
carpet area, layout plan, consumption of floor space index, additional floor
space index and details of the promoter enterprise. It also requires the
disclosure of the schedule for procurement of municipal services such as sewerage,
water supply, electricity, drainage and also fittings by the developers.
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