Saturday, March 22, 2014

97th Amndmt. (SERIAL No. 3)

List of responsibilities of a real estate developer:
  • Every developer should ensure that there are clear title deeds for every project.
  • Developers must first get all the legal, regulatory and statutory clearances.
  • A developer should confirm if the land has any legal dues.
  • A developer should secure the required finances from funding institutions.
  • Developers should explain the real estate terms like carpet area, built up area, super built up areas along with the plan and specifications of the project to their customers.
  • Developers should repay the investors’ money with interest if there is any delay or a project is stopped.
  • Developers should offer properties at fair prices and should target for the marginal profit.
  • Developers should plan ahead to overcome shortage of raw material.
  • Developers should enquire with various departments of the municipality in order to establish whether any notices or requisitions relating to the property are outstanding.
  • Developers should avoid or minimise delays in project completions.
  • They should offer quality construction and services.
  • A developer should keep the customers informed on the progress of a construction project and update them regularly.
  • Developers should safeguard the interest of customers.
  • A developer should offer homes which buyers can select based on the layout, floors, kitchen and several other aspects.
  • Developers should sell properties free from encumbrances.
  • Developers should give buyers a clear idea on extra charges like electricity, sewerage, covered car park, open car park, VAT and service tax etc.
  • The developer will have to stick to the initial master plan that he advertised when he was marketing the project.
  • Developers should have transparency while dealing with their customers.
  • It is unforgivable for developers to change project plans without informing the customer.
  • No developer is allowed to build on green areas, or spaces demarcated as play areas.

Real estate developers play an important role in the industry as they bridge the gap between the construction ability and the investor’s need. They cater to the value of a project in terms of design, functionality, cost and location. Apart from this, they also work hard in order to absorb international trends, deliver quality realty [...]
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(posted; unpublished)
For further clues, especially to those brethren who have, for own reason, no time or mind to strive thinking of or venturing to do any 'home work', but seemingly having a 'mind block' and hence undecided as to which of the clues could be useful or not, here is some 'fast food'(links - for inspiring a line of self-improving thoughts):
>>Responsibilities of a real estate developer
KEY NOTE: Need to do so , to begin with, by those RWAs who have unwittingly or otherwise chosen to get diverted to a wrong 'track', mindless of the disastrous consequences that undoubtedly has in store. How long it is going to take to realise the folly, and, if feasible, to try and change over to a right track even at this LATE HOUR IS the one and only vexing question left to be diligently answered !
Of course, in  side line, what remains to be suitably but wisely resolved is the primary dilemma, - as to whether one should litigate or not; or if already involved in litigation. how best to take things forward ?
Citizen Matters, Bangalore: The apartment law you must know

.... stay in an apartment built by Vandana Builders. The builders never took any effort to form/ register our association/ committee. We do not possess any Khata as the builders have violated the approved plan. Also the builders have not given any original docs including the approved plans / BBMP approvals or any related docs to the committee. We have been following up with the builders for almost 5 years now. It seems the partners have separated and noone knows which of the partner has the docs related to this apartment. One builder points to other, whereas couple of them are just not contactable. We are now planning to register our association under KAOA, but DoD and other docs will be a challenge. Request your guidance on this pls. Also can we register a complaint against the Builders for the missing docs and for that is it a prerequisite foe the association to be registered.?

Tail Note
Interactive Voice Response (IVR) for knowing the status of your PAN/ TAN application is now available at TIN call centre (TCC) in Hindi/English language.

One single character initial is allowed in middle name field in PAN application for individual category. (Please note that name in proof of identity and proof of ...

With effect from April 8, 2012, PAN applications are required to be furnished in the new forms prescribed by ITD. Indian citizens will have to submit their ...

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