APSC Prelims and Mains Notes, APSC Test Series
Establishment of state level regulatory authorities- Real Estate Regulatory Authority (RERA)- the Act provides for State governments to establish more than one regulatory authority Functions: Register and maintain a database of real estate projects; publish it on its website for public viewing, Protection of interest of promoters, buyers and real estate agents development … Read more
Real estate sector is highly unregulated where black money find its place. Major issues with real estate sector are lengthy approval process for project clearances, lack of clear land titles, diversion of funds received by the developer towards one project to more lucrative ones. Changing of layouts by the developer and legal disputes between buyers … Read more
Major advantages: It will help to regulate the highly unregulated real estate sector. Will help to deal with the undue delay in project implementation. Will help to streamline the data of the project across the country and hence will bring homogeneity and rule bas e pricing in the sector. It will enhance the transparency … Read more