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REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, 2016 (RERA) INVESTMENT BY FOREIGN NATIONALS AND NON-RESIDENT INDIANS

A foreign national is any person who is not a national of the country in which he or she is residing and NRIs are overseas Indians, officially known as Non-Resident Indians or Person of Indian origin, are people of Indian birth, descent, origin who lives outside the Republic of India. An NRI or person of Indian origin (PIO), as defined in FEMA and as stated above, can acquire by way of purchase, any immovable property in India, other than agricultural land/plantation property/farm house. This is under a general permission that has been given by the Government of India. However, no person...

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REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, 2016 (RERA) AND ITS IMPLICATIONS ON CONSUMERS AND HOME-BUYERS

The buyers have had problems such as the delay in possession, transfer of the deed or poor quality projects and much more and the builders are not held accountable for their actions or lack thereof. To ensure the timely possession of the properties the Real Estate (Regulation and Development) Act of 2016 (RERA)  has made some provisions. RERA has been introduced mainly to protect the interest of consumers and property buyers The Act prohibits unaccounted money from being pumped into the sector and as of now 70 percent of the money has to be deposited in bank accounts through cheques is...

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REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, 2016 (RERA) AND ITS EFFECT ON BUILDERS, DEVELOPERS AND REALTORS

Impact of the Real Estate (Regulation and Development) Act of 2016 (RERA) on builders, developers and realtors (a person who acts an agent for the sale and purchase of buildings) includes the following: 1] Under RERA builders are mandated to register critical information regarding the project which includes layout, promoter details, land title status, statutory approval status, agreements, and details of the brokers, architects and contractors. Failure to register this information will lead them to penalties. 2] They are bound by a five-year agreement with the buyer for quality assurance. This means that within five years of selling a property if construction...

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ILLEGAL TRANSFER OF PROPERTIES IN INDIA AND IT’S LEGAL REMEDIES

Illegal transfers of property or mutation are disputes which are quiet often faced by Non-Resident Indians, which has caused a lot of growth in civil lawsuit in India. One must always establish a clear title of property in order to have stake over the ownership and also to avoid fraud. There are two basic ways in which transfer takes place, i.e., through a Will document or in absence of a Will, through law of natural succession. Also, if the owner is alive and is consenting to hand over his property, it can be done through a Gift deed, which is lawful....

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REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, 2016(RERA) AND ITS IMPLICATIONS

The Real Estate (Regulation and Development) Act, 2016 here after referred to as ‘RERA’ is an act of the Parliament of India which seeks to promote the house-buyers as well as to boost investments in real estate industry. The Central and state governments are liable to notify the Rules under the Act within a statutory period of six months. The Real Estate Act makes it mandatory for all commercial and residential real estate projects where the land is over 500 sq.mtr, or eight apartments, to register with the Real Estate Regulatory Authority (RERA) for launching a project, in order to provide...

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REGISTRATION OF PROPERTY IN INDIA

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When a valid sale of a property takes place, it comes with certain compliances. For a valid sale of property, it must come with a valid sale deed or agreement and in order to give such sale deed a valid essence, it must be registered as per the Registrations Act, 1908. The registration of sale and purchase of immovable property is mandatory and ensures conservation of evidence, prevention of fraud and assurance of title. As per the Section 17 of the Registrations Act, 1908, all transactions involving sale of an immovable property for a value exceeding Rs. 100, should be...

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SALE OF IMMOVABLE PROPERTY IN INDIA

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Sale of immovable property has been defined as a transfer of ownership in exchange for a price paid or promised or partly paid or partly promised under Section 54 of the Transfer of Property Act OF 1882. For a sale to be a valid sale, it must cover the essential elements as prescribed under Section 54 of the Transfer of Property Act 1882. These elements are as follows:- Parties- In a sale, there has to be a buyer and a seller. Both of these parties must be competent to enter into a contract as per the Indian Contract Act. Subject Matter-...

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TRANSFER OF IMMOVABLE PROPERTY IN INDIA BY NON RESIDENTS INDIAN (NRI) AND FOREIGN NATIONALS

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The procedure and regulation for acquisition and transfer of immovable property by Non-Resident Indians (NRIs) is governed by Foreign Exchange Management Act, 1999 (FEMA). The Reserve Bank of India has been empowered under Foreign Exchange Management Act, 1999 (FEMA) to frame regulations for restricting, prohibiting and regulating the acquisition or transfer of immovable property in India by Non- Resident Indians. As per the direction of the regulations, a person residing      outside India who is a citizen of India, Non-Resident Indian (NRI) or Person of Indian Origin (PIO) can acquire by way of purchase, any immovable property in India, other than...

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ROLE OF POLICE IN PREVENTION OF SEXUAL HARASSMENT UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT OF 2013

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In the year 2013, the Sexual Harassment of Women at Workplace (Prevention,Prohibition & Redressal) Act was enacted to keep check and prevent incidents of sexual harassment at workplace. Guidelines in respect of the Act were also framed for seeking quick and effective re- dressal. For an act to take place, it is not necessary that incident takes place at place of work only, it may also occur during any of the company events, work related travels, customer’s/client’s premises or any work related electronic communication. We know that for reporting an act, the complaint is made before Internal Complaints Committee, Local Complaints Committee...

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DEFENCES AVAILABLE TO MALE EMPLOYEE IN CASE OF FRIVOLOUS AND VEXATIOUS COMPLAINTS OF SEXUAL HARASSMENT

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Sexual harassment at workplace is a major problem which is faced worldwide. Sexual harassment does not only come in form of quid pro bono (if you will sleep with me, you will get promotion) but also in form of in appropriate jokes, showing pornography, direct or indirect unwelcome touching or any unwelcome in appropriate sexual behavior. When an employee claims sexual harassment to the internal committee or local committee, such internal committee of the company or local committee is bound to inquire into the matter and submit its report. Committing sexual harassment at workplace is definitely an act which affects...

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