Tag Archive: Real Estate Bill

What’s real in the Real Estate Bill?

The real estate bill is pending in the parliament for nearly three years while the problems related to the sector continue to mount, says Binayak Datta* A friend of mine – an executive in one of the Blue Chip MNCs had dreamt of a 3 bed roomed apartment at an upmarket locality in the millennium city of Gurgaon. He approached a big real estate company direct who had advertised for their huge upcoming project. He booked his dream apartment and paid 10 per cent down on booking. The rest was to be called up by instalments depending upon the progress of construction. This project was to be completed and handed over in 24 months from the date of booking. My friend obtained a hefty housing loan from a bank and started paying the instalments to the builders and…
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