Wednesday, December 2, 2015

Improve Transparency level in Real Estate Sector

Improve Transparency level in Real Estate Sector

To bring transparency in Real Estate sector

Government body needs to make this compulsory that builder have to submit on line document which is viewable to everyone.



To bring transparency in Real Estate sector
S/No
Government body needs to make this compulsory that builder have to submit on line document which is viewable to everyone.
1
Developer Name
2
Developer Address
3
Approved Map from Govt. Body  (say for example MCD- Municipal corporation)- Building Plan Approval  copy- Issue by MCD/ Authority
4
If on lease,  Lease agreement copy
5
Bank tie-up detail & document required by bank for loan.
6
Clear Possession date
7
No dues  & no court case on property certificate
8
Parent Company / Major Shareholders
9
Architect / Contractor Name
10
Architect / Contractor Address
11
Registration Number
12
Name of Muncipal Corporation/Authority
13
Licence Registration No.
14
Clear TIN No of  company
15
Turnover Financial Results in last 3 years
16
3 years Income tax  return, so that easily identify the black money involvement & NRI money  which may effecting our current economy and responsible for  costliness of property for normal Indian user.
17
Reserve the limited quota for NRI
18
Clear detail of current circle rate and   forecasting for future rise of property. So that end user can justify the rate demanded by builders.
19
Project Type Mixed
20
If Mixed, No. of Commercial units/shops -
21
Plot Area (in acres)  ( in Sqft)
22
FAR(Floor area Ratio) Approved (in sqft)
23
FAR(Floor area Ratio) Proposed / Constructed (in sqft)
24
TDR Approved
25
Construction Status
26
Project Launch Date
27
Construction Start Date
28
Developer Bank Name
29
Carpet Area/ Plot Area should have to be publish , unit wise/ tower wise
30
Tower Wise Loading  should be publish
31
Any Legal Litigation
32
Any Social Disturbance
33
Plan Sanction Letter
34
Clearance proof for PDC as per legal report
35
ODV
36
Pollution NOC
37
Udharan Khatauni
38
NOC- Nagar Palika Parishad
39
Fire NOC Copy- issue by Chief Fire control Officer, Fire Department Clearance Status /
Fire department clearance Letter
40
Pollution Control Clearance Status /Pollution Clearance Vide Memo No.
41
NOC for Construction
42
Environmental Clearance  By respective authority- Environment Clearance status Environment Clearance Copy
43
Specimen apartment/Flat  Buyer Agreement to be executed between Builder on one part and the buyer on other part
44
Copy of clearance –Height From respective authority
Real Time requirement in Real estate Bill – Government Policy can help this segment
45
A heavy penalty clause from government bodies if a builder produces any wrongs facts
46
Builder reputation detail rating by facts some common point system
47
Clear penalty detail. If builder is not able to delivered the project on time, Right now 5/- per sq ft . Builders are mentioning but this is like lottery for builder money at minimum interest. Actually builder have to pay interested  from bank + penalty for delay
48
No Charges for parking , Parking should be included in flats
49
House registry charges as per cost to reduce lack money involvement , because people are showing less property cost to save their 5-7 % registry charges this need to reduce up to 2% up to 25 lakhs  and from 25 Lakhs to 1 caror – 1.5% and above 1 caror – 1% only. To allow them to show their actual cost. Later on government can get property tax on actual property value.
50
Prices should be implemented on carpet area not on super area
Super Area= (carpet area) + (carpet area) X (Loading factor)

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