Clarification on Calculation of Carpet area as defined under section 2(k) of RERA

By Dr. Sanjay Chaturvedi, LLB, Ph.D. Ref: - Section 2(k) of the Real Estate (Regulation and Development) Act, 2016 Preamble:- The government of India has enacted the Real Estate (Regulation and Development) Act, 2016 and all the sections of the Act have come into force with effect from May 1, 2017. The government

Cabinet approves the increase in the carpet area of houses eligible for interest subsidy under the Credit Linked Subsidy Scheme for the Middle Income Group under Pradhan Mantri Awas Yojana

By Accommodation Times Bureau The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the increase in the carpet area of houses eligible for interest subsidy under the Credit Linked Subsidy Scheme (CLSS) for the Middle Income Group (MIG) under Pradhan MantriAwasYojana (Urban).   To further enhance the scope, coverage and

Balcony, veranda, terrace NOT part of carpet area : MahaRERA

By Accommodation Times Bureau To bring about uniformity in the sale of apartments in the state, the Maharashtra Real Estate Regulatory Authority (Maha RERA) issued a circular on Thursday defining carpet area calculation and asked builders to adhere to this standard while drawing up sale agreements. The regulator’s circular has stated that the

Builders can not sell stilt parking areas – Supreme Court

In a recent case of an argument of a real estate development company that they are entitled to sell garages or stilt parking areas as separate flats to owners who intend to use it as parking facilities, a bench of Justices A K Patnaik and R M Lodha of Supreme

Clarity on the benefits of Carpet area pricing

The UnReal Pricing of Real Estate Clarity on the benefits of Carpet area pricing If we trace the evolution of the property market taking Mumbai as a case study it becomes very clear how and why the lack of transparency gradually crept into property dealings. Historically property has been measured