Month: August 2018

Real estate regulation and development Act

RERA Act “Real estate regulation and development “ Act 2016, has come into effect on 1st may 2016. Under this new act customers/investors are given protection against defaulting and fraudulent promoter/developers. There by this act has intended to provide complete protection to the investors/customers. Under this act, each and every project which is measuring more than 500 sq mtrs or having more than 8 flats/apartment including all the phases/blocks have to be compulsorily registered with RERA. Unless such a registration is done no sale shall be conducted of the project. That such a project should have all approvals and permissions from all the concerned local authorities. With out such permissions such project will not be registered. Registration of a project will be done with all documents supported by a declaration. If there is any violation of the provisions of this act shall be liable for punishment. Thus promoter/developer cannot do malpractice or fraud in selling apartment. Plot or building of his project. Other wise the defaulter will be held liable for punishment.
Therefore this act regulates the real estate sector, thereby promises customers/investors assuring safety of their investment. It also boosts the real estate sector & those who are doing business with all compliances will stand and those without compliances will fail thereby it controls those doing business to grab money by fraud & malpractice will be out of business.

National Green Tribunal Order

Recently in one of the case NGT has passed an order imposing heavy cost for those land grabbers who have illegally acquired lake beds & sold it to third parties. It has also sought for restoration back the lands imposed certain conditions that the buffering zone around water bodies like lakes, raja kaluves have been increased & has also imposed a condition that the buffering zone around water bodies like lakes, raja kaluves have been increased & has also imposed a condition that the buffering zone should be utilized only for ecology & environment, the said buffering zone should be utilized only for ecology and environment, the said buffering zone. This is done for the purpose of sustainable development particularly keeping in mind the ecology & environment, the said buffering zone will be treated as no construction zone. This is done for the purpose of sustainable development particularly keeping in mind the ecology and environment of the area.

This judgment has particularly imposed a condition that the construction project should necessarily use only treated sewage water & this would be a condition pre-requisite for grant of construction permission. This judgement has made it a mandatory condition that the buffering zone should be from 75mtrs to 25 mtrs from the periphery of the water bodies depending on the type of water body like primary raja kaluve, secondary raja kaluve and territory raja kaluves.