Skip to main content

Implement RERA in Karnataka, say home buyers

Implement RERA in Karnataka, say home buyers


BENGALURU: A forum of home buyers, Fight for RERA, staged a protest at Town Hall on Sunday demanding that the state government implement the Real Estate (Regulation and Development) Act, 2016.
The Karnataka government is yet to frame the rules for the Act, without which it cannot be implemented.
While as many as 13 states in the country have implemented RERA, there has been a delay in the state. Apart from finalising the rules at the earliest, members of the forum have insisted that the government should not dilute the Act and include all ongoing projects as part of the rules.  M S Shankar, Convener, Fight for RERA—Karnataka Chapter said, “The forum is requesting the state government to come out immediately with undiluted RERA rules and appoint unbiased Regulatory Authority to take forward implementation of RERA in Karnataka and consider all our demands.”
Some of the demands placed by the forum includes— physical handover of the apartment should be given along with all the amenities as promised at the time of sale in accordance with the project details etc.



Comments

Popular posts from this blog

Store your property documents online- Top 3 benefits of moving to a Digital Platform

Store your property documents online- Top 3 benefits of moving to a Digital Platform



BENEFIT #1: Quick and Easy Access Have you wasted hours trying to find the one document you need? Searching for documents through a library of file cabinets is tedious and involves a lot of energy. On the other hand, documents stored digitally can be easily tracked and retrieved immediately during an emergency. Digitized documents can also be shared with anyone who needs it in real-time, which is usually not possible with the paper documents.
BENEFIT #2: Enhanced Security and Greater Reliability Who can you turn to for help and aid, if your property papers have been misplaced, lost or stolen? Property documents are important and having adequate security and control is imperative. Hard copies have a high probability of being damaged either by a flood, fire outbreak, or any other force majeure meaning Act of God. With digital archiving as a backup, documents are protected from any kind of disasters. Digit…

Tips to Save Money for the Down Payment of your New Home

The decision to purchase a home is not an easy one. It requires a whole lot of planning and careful scrutiny of various factors. Of late, the demand for home loans has increased substantially due to the host of tax benefits provided to a borrower. The primary step to this long journey begins with “Down Payment”. More often than not, it is extremely difficult to arrange money within a short period. Down payments are a means to ensure your lender that you are capable of dealing with the finances of the borrowed amount, and essentially establish a working relationship. The down payment usually comes up to a whopping 20% of the property in consideration and is essentially your primary investment amount in your home. Increasing it will directly reduce the magnitude of risk on the lender. More so, it underlines the buyer’s commitment and ability to complete the deal and indicates the buyer’s fidelity in making the loan payments. The concept of zero down payments is usually not advisable. A…

10 Steps to Buying a Home

10 Steps to Buying a Home Understanding how to find and finance the perfect home for you Buying a house requires a lot of time and effort, but these 10 steps can help make the home buying process manageable and help you make the best decisions possible.
Step 1: Start Your Research Early As soon as you can, start reading Web sites, newspapers, and magazines that have real estate listings. Make a note of particular homes you are interested in and see how long they stay on the market. Also, note any changes in asking prices. This will give you a sense of the housing trends in specific areas.
Step 2: Determine How Much House You Can Afford Lenders generally recommend that people look for homes that cost no more than three to five times their annual household income if the home buyers plan to make a 20% down payment and have a moderate amount of other debt. But you should make this determination based on your own financial situation. Use our Affordability Calculator to see how much house you can …