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Showing posts with label Study Materials2. Show all posts
Showing posts with label Study Materials2. Show all posts

Wednesday, February 22, 2017

Everything you need to know about Real Estate Act, 2016

21:45

Why in news?
  • Central government has cautioned the States of a vacuum arising if necessary institutional mechanisms, as required by the Real Estate Act were not put in place before April 30, 2017.
What is Real Estate Act, 2016?
  • The Act which is envisaged to regulate both commercial and residential real estate projects, seeks to set up a state level regulatory authority called Real Estate Regulatory Authority (RERAs) for regulation and promotion of the real estate sector.
  • The Act makes it mandatory for uploading the details of a Real Estate project on the website of the RERAs. Real estate agents also need to register with the RERAs.
  • The Act also makes it mandatory for the builders to put 70% of the amount collected from buyers in a separate bank account. This must only be used for construction of the project. However, the state government can alter this amount to less than 70%.
  • The Act also seeks to establish fast track dispute resolution mechanisms for settlement of disputes through adjudicating officers and Appellate Tribunal.
What are some of the key issues?
  • Major issue is Parliament’s jurisdiction to make laws related to real estate as “land” is in the State List of the Constitution. However, the primary aim of the act is to regulate contracts and transfer of property, both of which are in the Concurrent List.
  • Some states already have laws to regulate real estate projects. And the act differs from these state laws on several grounds.
  • The Bill mandates that 70% of the amount collected from buyers of a project be used only for construction. In certain cases, the cost of land more than 30%.
  • The real estate sector has some other issues such as a lengthy process for project approvals, lack of clear land titles, and prevalence of black money. Some of these also fall under the State List.
Why establishing RERA is important?
  • Only 4 States and 6 Union Territories so far notified the final Real Estate Rules. So, the Minister of Housing & Urban Poverty Alleviation has urged the Chief Ministers of states to implement the Act before April 30, 2017.
  • From May 1, 2017, under the provisions of the Act, both buyers and developers of real estate property can approach RERA seeking relief against violation of the contractual obligations and other provisions of the Act.
  • For this to happen, Real Estate Authorities and Appellate Tribunals were required to be in place and in a position

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Sunday, December 11, 2016

Friday, November 11, 2016

Security & Disaster Management

11:15

Vision 365 MAINS Materials

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Saturday, October 08, 2016

MAINS GS 2 SYLLABUS

09:06
MAINS GS 2 SYLLABUS
General Studies- II: Governance, Constitution, Polity, Social Justice and International relations.

  • Indian Constitution- historical underpinnings, evolution, features, amendments, significant provisions and basic structure.
  • Functions and responsibilities of the Union and the States, issues and challenges pertaining to the federal structure, devolution of powers and finances up to local levels and challenges therein.
  • Separation of powers between various organs dispute redressal mechanisms and institutions.
  • Comparison of the Indian constitutional scheme with that of other countries
  • Parliament and State Legislatures – structure, functioning, conduct of business, powers & privileges and issues arising out of these.
  • Structure, organization and functioning of the Executive and the Judiciary Ministries and Departments of the Government; pressure groups and formal/informal associations and their role in the Polity.
  • Salient features of the Representation of People’s Act.
  • Appointment to various Constitutional posts, powers, functions and responsibilities of various Constitutional Bodies.
  • Statutory, regulatory and various quasi-judicial bodies
  • Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
  • Development processes and the development industry- the role of NGOs, SHGs, various groups and associations, donors, charities, institutional and other stakeholders
  • Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and Bodies constituted for the protection and betterment of these vulnerable sections.
  • Issues relating to development and management of Social Sector/Services relating to Health, Education, Human Resources.
  • Issues relating to poverty and hunger.
  • Important aspects of governance, transparency and accountability, e-governance- applications, models, successes, limitations, and potential; citizens charters, transparency & accountability and institutional and other measures.
  • Role of civil services in a democracy.
  • India and its neighborhood- relations.
  • Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
  • Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora.
  • Important International institutions, agencies and fora- their structure, mandate.
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