RECOMPLY VENTURES LLP

Home Buyers can seek relief against builders / developers (termed as ‘Promoters’) under the Real Estate (Regulation & Development) Act (RERA), Consumer Protection Act (CPA) and Insolvency & Bankruptcy Code (IBC).   P rovisions of RERA RERA seeks to provide uniform laws throughout the states, for protecting the interests of home buyers by seeking increasing transparency in functioning of Promoters and reducing the chances of default or misappropriation of funds by Promoters. RERA provides a separate grievance redressal system relating to the real estate industry. For expeditious redressal of complaints of home buyers under the Act, it provides for establishment of the following: Real Estate Regulatory Authority; and Real Estate Appellate Tribunal. It basically and broadly provides for remedy for following breaches / contraventions by Promoter / Real Estate Agent: Inviting / Offering for sale, etc., without registration of project by Promoter. Acting a

What is REIT? Real Estate Investment Trusts (REIT) are securities linked to real estate that can be traded on stock exchanges once they get listed. The structure of REIT is similar to that of a  mutual fund . Just like mutual funds, there are sponsors, trustees, fund managers and unit holders in REIT. However, unlike mutual funds, where the underlying asset is bond, stock and gold, REIT invests in physical real estate. The money collected is deployed in income-generating real estate. This income gets distributed among the unit holders. Besides regular income from rents, gains from capital appreciation of real estate also form an income for the unit holders. Backdrop REIT have been in the making for more than a decade in India, but it was only in October 2013 that draft guidelines were issued by the  Securities and Exchange Board of India  (SEBI). However, lack of clarity on tax implications on income earned and some other related aspects were holding them back from becoming a rea