Goa Latest Real Estate News

Realtors brace for chaos, pain, rising costs as RERA comes closer to reality

Property

The new legislation to regulate the building industry in the country has been welcomed by everyone. AJIT JOHN spoke to builders in the State to understand their reaction to this piece of legislation that will change the modus operandi of many The initial reaction to RERA has been very welcoming. And the general consensus is that it will take three months for the bill to be implemented in the State. The Real Estate Regulation and Development Act will radically overhaul the way the industry is run. The essence of the legislation is to provide protection to the individual interested in buying a house. It is undoubtedly the most important bit of legislation for a sector which has generally functioned like the Wild West. The central law is excellent in principle according to the considered opinions of builders in…
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Real Estate in Goa: Demonetization v/s. GST v/s. RERA

realesate

The recent demonetization of Indian rupee bank notes has created a scenario where many believe that housing prices will drop rapidly. This has prompted a wait and watch syndrome for potential home buyers. Experts actually believe that the Goods and Services Tax (GST) which is set to be rolled out in April 2017, coupled with the Real Estate Regulator Act (RERA) which begins in May 2017 will actually cause developers to increase prices. If you are on the lookout for a home, here are some key points to consider: House condition– How old is the property? Is it in a good condition? What do the neighbours say? Builder’s reputation– It is worth checking out the credentials of the builder before proceeding. Are they a member of CREDAI? Location– Is the property close to good transport, Schools, Hospitals, market?…
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