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neemrana property, neemrana property for sale, properties in neemrana, property in neemrana, rental property in neemrana
Neemrana is one of the fastest growing city on the real estate front. It has been well-planned by the government under the Neemrana Master Plan 2031 which will have a positive impact on the realty sector in this industrial hub. One major decision by the government taken recently called the real estate bill have effect on almost all cities. Here, let’s discuss what all consequences does it has on Property in Neemrana.
Actual photograph for advertisements
As per the law, the builder will have to use only real sire picture or actual construction work pictures for publication the projects. Builders cannot use any fake picture for promotional purpose.
Price as per carpet area
The Bill says that prices should be linked or charge only carpet area to the buyers. Carpet area is the net usable area where we use for our living purpose. The area which is provided for the parking area, gym,garden, staircase, doors, other amenities are said to be a super built area. So, when builder allotted project they mention all super built area instead of carpet area and because of that price become low compared to super built up area sq.ft. After getting the project, it realizes that how we have to pay to the builders.
Different rules for every state
It is mention that there is set up to the central body for individual states should have their state regulators. This elaborate, there is guidelines for real estate sector and builders, the authority of state will focus on regulating real estate builder. I assume it might create a confusion to both builders as well as buyers.
Registration of Builder and Dealer
Before the bill there was no registration with any central or state body, there is no definite standard for any code of conduct or services. Now, they have to register themselves along with distinct responsibility and functions.
Separate bank account for every project
As notify by the state government, a builder will have to maintain the separate bank account for each and every project. Up to 70% of the fund has to be there in the bank account.
On time delivery
According to real estate bill the builder has to refund money if he fails to deliver the project on time.Being a consumer we have to seek that points gets added to the every agreement of the project and make sure that this point is omitted in agreement if it is not then you file a consumer court and afterwards, you are rewarded with your rights.
The realty bill may or may not be in favor of the cities or developers or buyers but it definitely has bought along transparency in the real estate sector. Thus, buying property in Neemrana will be much planned but it will be worth to follow all the new rules and regulations implemented by the government.