- December 14, 2016
- Posted by: amdaindia
- Category: Urban News
Ministry of Urban Development has finalised the Real Estate General Rules and Rules for Agreement for Sale for the National Capital Territory of Delhi as required under the Real Estate (Regulation & Development) Act, 2016. Minister of Urban Development M Venkaiah Naidu approved these Rules, which have been formulated after consultations with the Delhi Government, New Delhi Municipal Council, three Municipal Corporations of Delhi, Delhi Development Authority and other stakeholders.
The Real Estate Rules applicable to Delhi are the same as notified on October 31 this year by the Ministry of Housing & Urban Poverty Alleviation for the five Union Territories without Legislatures. They, however, provide clarity on some aspects like litigation details to be published on the website, provision for quality audit of projects and flexibility in agreement for sale.
Regarding publication of litigation details pertaining to the promoter on the website, it has been specified such details in respect of litigations disposed of by the concerned court in the past five years in respect of projects developed or being developed may be published on the website. This has been considered since a promoter may not have complete information about various cases filed, at the time of providing such information to Regulatory Authorities.
Delhi Rules also provide for Regulatory Authorities to undertake a third-party quality audit of real estate projects registered with them, to ensure the quality of construction, services etc., of the project in the interest of buyers.
With regard to the Rules for Agreement for Sale between the buyer and the promoter, flexibility has been proposed so as to include other elements or features besides the apartment, plot, garage, parking, if required. This has been provided to address special contingencies relating to the nature of projects to be taken up or the needs of buyers.
Under Section 2(g) of the Real Estate Act, Ministry of Urban Development has been mandated with the responsibility of making Rules for the National Capital Territory of Delhi.
Source : Urbannewsdigest