India’s Ministry of Urban Development finalized today the Real Estate General Rules and Rules for Agreement for Sale for the National Capital Territory (NCT) of Delhi as required under the Real Estate (Regulation & Development) Act, 2016.
The Urban Development Minister 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 (DDA) and other stakeholders.
According to a government statement issued today, these Rules will be notified by the 27th of this month, the extended date in this regard.
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 website, provision for quality audit of projects and flexibility in agreement for sale.
Regarding publication of litigation details pertaining to the promoter on 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 website.
This, according to the government, 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 third party quality audit of real estate projects registered with them, to ensure 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.
It was stated that 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.
Support Independent Fearless Journalism
In today's media world controlled by corporates and politicians, it is extremely difficult for independent editorial voices to survive. RMN News Service has been maintaining editorial freedom and offering objective content for the past over 7 years despite enormous pressures.
In order to serve you fearlessly in this cut-throat world, RMN News Service urges you to support us financially with your donations. You can choose the amount that you want to donate from the options given below.
You also can select any of the Payment Methods:
Offline Donation: To know our bank details for online bank transfer and payment by cheque in Indian rupees.
PayPal: To make payment by Credit / Debit Card or PayPal account.