Bengaluru, April 01, 2016: Already there has been considerable protest against the inclusion of under construction projects in the Real Estate Bill and very recently a news of projects, even 5 years old being included under this bill is doing the rounds. Now the developers are very disappointed with the news of amendments being made to the bill and a new provision being added to it. Adding impetus to the general thought process, Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz says, “It is not appropriate to include ongoing and previous projects in this bill. Government should understand that the if the project is almost complete and possession has already been offered to a majority of residents, taking the project back on the drawing boards to the regulator and having it registered post the submission of all documents will only delay the proceedings and this will ultimately bear a direct impact on the delivery time frame of the projects.”
Corporate Comm India (CCI Newswire)
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