IRREGULARITIES, VIOLATIONS, MISREPRESENTATON OF FACTS & CONCEALMENT OF FACTS BY TOP BUILDERS AT BANGALORE

IT IS NOTICED THAT IRREGULARITIES, VIOLATIONS, DEVIATIONS, MISREPRESENTATION OF FACTS, CONCEALMENT OF MATERIAL FACTS AND IRRELEVANT DOCUMENTS ARE SUBMITTED TO THE GOVERNMENT AUTHORITIES AND ALL THE BOARDS ETC TO OBTAIN THE LICENSES, APPROVALS, NOC AND CLEARANCES HAVE BECOME A PART AND PARCEL OF THE REAL ESTATE AND CONSTRUCTION BUSINESS.  OF LATE, EVEN, THE SO CALLED, … Continue reading IRREGULARITIES, VIOLATIONS, MISREPRESENTATON OF FACTS & CONCEALMENT OF FACTS BY TOP BUILDERS AT BANGALORE

Service tax on construction services-A clarification from the department

Circular No. 151/2/2012-ST F.No.332/13 /2011-TRU New Delhi, 10th February, 2012 Subject: Service tax on construction services — regarding. Many issues have been referred by the field formations, in the recent past, seeking clarification regarding the levy and collection of service tax on construction services [clauses (zzq),(zzzh) of section 65(105) of the Finance Act, 1994], in the light … Continue reading Service tax on construction services-A clarification from the department

SALE AGREEMENTS

ONE SIDED AGREEMENTS-UNFAIR AGREEMENTS-BIASED AGREEMENTS, ILLEGAL AGREEMENTS, UNFAIR CLAUSES - BY DEVELOPERS AND BUILDERS IS YOUR BUILDER/DEVELOPER/MARKETING AGENCY COMPELLING YOU TO SIGN OR ENTER INTO SALE AGREEMENTS ON CERTAIN CLAUSES WHICH ARE AGAINST YOUR INTERESTS OR IN FAVOUR OF THE DEVELOPER OR UNFAIR OR ONE SIDED AGREEMENTS OR THE BUILDER DOES NOT AGREE TO MODIFY … Continue reading SALE AGREEMENTS

One sided contract and the consumer protection act- Most of the Sale agreements are totally one sided – Benefits the Builder

The government is set to overhaul the Consumer Protection Act, 1986 to provide for acting against unfair terms in contracts which are skewed heavily in favour of service providers or manufacturers or builders or developers. Government officials said discussions are on to bring in transparent rules on unfair contracts. Under the present laws, the contracts … Continue reading One sided contract and the consumer protection act- Most of the Sale agreements are totally one sided – Benefits the Builder

HOME LOAN CONDITIONS- RBI-01-07-2011

A. Housing Loan for building construction        i.            In cases where the applicant owns a plot/land and approaches the banks/FIs for a credit facility to construct a house, a copy of the sanctioned plan by competent authority in the name of a person applying for such credit facility must be obtained by the Banks/FIs before … Continue reading HOME LOAN CONDITIONS- RBI-01-07-2011

HOME LOANS-BANK SANCTIONS-DOCUMENTATION-UNDERTAKINGS-AFFIDAVIT- READ IT

HAVE YOU READ ALL THE CLAUSES AND CONDITIONS ON WHICH THE HOME LOAN HAD BEEN SANCTIONED TO YOU? HAVE YOU EXECUTED AN UNDERTAKING OR AN AFFIDAVIT TO THE BANK REGARDING THE COMPLIANCE? CHECK IT ONCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! THE UNDERTAKING EXECUTED BY YOU TO THE BANK? WE ARE PUBLISHING ONE SUCH AFFIDAVIT WITH GENERAL CLAUSES EXECUTED ON OATH … Continue reading HOME LOANS-BANK SANCTIONS-DOCUMENTATION-UNDERTAKINGS-AFFIDAVIT- READ IT

OCCUPANCY CERTIFICATE AND THE MUNICIPAL LAWS

In case of high-rise buildings falling within the jurisdiction of BBMP, be it residential or commercial, issue of Occupancy Certificate by the BBMP on completion of construction is a mandatory requirement under the City of Bangalore Municipal Corporation Building Bye-law 2003. Bye-law 5.6 of the bye-law provides that every person shall, before the expiry of … Continue reading OCCUPANCY CERTIFICATE AND THE MUNICIPAL LAWS