[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Kyungwon staff of Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which is as mentioned under.|
Builders flouting rules is nothing new in India. They have repeatedly got away with it too. Think Adarsh Society in Mumbai that is yet to be demolished despite multiple violations. However, four builders who made a mockery of coastal regulation zone (CRZ) rules in Maradu, Kochi were not so lucky. All four buildings—H2O by Holy Faith Builders, Serine by Alpha Ventures, Coral Cove by Jain Housing and Golden Kayaloram by KP Varkey & VS Builders were demolished in early January.
The demolitions could well set the precedent for more action against errant builders. As a homeowner, how confident are you that your property ticks all the legal boxes? If you are planning to buy a home, look for projects registered with the Real Estate Regulatory Authority (Rera). This is because Rera gives registration only when all approvals are in place. To be doubly sure, get the Rera registration number from the builder and crosscheck the same on the Rera website. Make sure the details given by the builder match that given on the Rera website.
Homebuyers in India need to be careful about CRZ rules as three out of four metros— Mumbai, Kolkata and Chennai—are on the waterfront. CRZ violations in these places could lead to demolitions like in Kerala. Buyers dreaming of waterfront villas and flats should be extra careful. CRZ-1 pertains to ecologically sensitive areas and therefore, activities there are restricted (see box)
Read more https://economictimes.indiatimes.com/wealth/real-estate/abc-of-crz-lessons-for-homebuyers-from-the-maradu-flats-demolition/articleshow/73353365.cms
Have a nice day.