Now, flat owners to pay lease money individually


Now, flat owners to pay lease money individually


JAIPUR: Apartment owners living in multi-storeyed buildings will now have to pay the lease money individually. Earlier, the developers used to collect money from the flat owners and deposit it with the state government.

After this, municipal corporation will seal the flat of individuals who defaults on payment of lease money. On Thursday, the directorate of local bodies issued fresh order for the same.

In a recent meeting with urban development and housing (UDH) officials, developers of the city demanded to collect the lease money from the owners after the flat is sold and transferred. Gopal Das Gupta, chairman, CREDAI Rajasthan said, "The civic bodies used to seal the entire apartment if any individual failed to deposit the lease money. This caused inconvenience to developer and other owners. We have requested the state government to collect the lease money individually."

Other than this, the developers earlier has also presented a 20 points memorandum to the state government. As reality market is facing slump the developers also demanded to deposit betterment levy in instalments. " It takes minimum two years to complete a project. The state government charges 25% of the reserve price as betterment levy at a time when project is initiated . Our demand was to take this hefty amount in instalments as a major burden for developers." added Gupta

The developers who are facing several complexities to register with Real Estate Regulatory Act (RERA) website have also demanded to simplify the process. The developers have to provide details of 49 points, which are mentioned in the registration form. The process is complex and it requires two- three days to collect substantial documents for one point . To avoid delay , developers in the state are demanding easier norms.

After chief minister Vasundhara Raje launched the RERA website on June 1, it became mandatory for all the builders and real estate agents to register on the website.

The builders cannot start advertising, marketing, booking and selling of any new projects without getting them registered after the site was launched. However, the complicated process and several irrelevant points in the registration form are raising many challenges in front of the developers.

source : Times of India

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