Capital Gains Tax Capital Gain is any profit or gain on sale of any capital asset. The profit is accounted as income of the individual or company and is taxable by law. Capital Gain Tax are divided as – Short Term Capital Gain (STCG)- Capital Gain on any asset held for less than [...]
Changes in Brokers due to RERA-
According to RERA brokers, agents, or property consultants are also accountable along with the developers. RERA makes sure that the agents are professional and away from any unfair activities that may affect the parties in any transaction. RERA has made the realtor community more vigilant and created positive growth in this sector making real estate transactions smoother and transparent.
RERA which stands for The Real Estate (Regulation and Development) Act, 2016 was enforced in India from 1 May, 2017. The major focus of the Act was to check the growing cases of builder’s delayed possessions and defaults and safeguard the interest of the buyers.
RERA aims at preventing the interest of homebuyers and instill transparency in the real estate sphere. All States, barring a few, have replicated the regulations under Central RERA with slight discrepancies at some places. For a homebuyer, it is important that they know the key provisions of the Act prior to investing in real estate.
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RERA grievances and Redressal Addressing Grievances and Complaints- All state RERA are instructed to form their own Appellate Tribunal which resolves the stakes and claims of the different conflicting parties in the real estate transaction. RERA Act states that all the Appellate Tribunals under state regulators address and resolve all the grievances and complaints within [...]