Real estate general rules for Delhi finalized

New Delhi, Nov 23 : The Union Urban Development Ministry has finalized the real estate general rules and rules for agreement of sale for the National Capital Territory of Delhi as required under the Real Estate (Regulation and Development) Act, 2016.These rules will be notified by November 27, the extended date in this regard, it was announced on Wednesday.Union Minister of Urban Development, Housing and Urban Poverty Alleviation M. Venkaiah Naidu has approved these rules, an official release said.The rules have been formulated after consultations with the Delhi Government, New Delhi Municipal Council, the three Municipal Corporations of Delhi, Delhi Development Authority and other stakeholders, it said. The Real Estate Rules applicable to Delhi are the same as notified on October 31, 2016 by the Ministry of Housing and Urban Poverty Alleviation for the five Union Territories without legislatures. They, however, provide clarity on some aspects like litigation details to be published on websites, provision for quality audit of projects and flexibility in agreement for sale, the release said.Delhi Rules also provide for regulatory authorities to undertake third party quality audit of real estate projects registered with them, to ensure quality of construction, services of the project in the interest of buyers.With regard to the rules for agreement for sale between the buyer and the promoter, flexibility has been proposed so as to include other elements or features besides the apartment, plot, garage, parking, if required. This has been provided to address special contingencies relating to the nature of projects to be taken up or the needs of buyers.