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All You Need To Know About Newly Launched Digital Platforms For Residential Properties

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The minister additionally launched a information guide for an reasonably priced rental housing scheme for migrants.

Highlights

  • CREDAI Awaas App helps to just about discover initiatives throughout 220 cities
  • Buyers can entry constructing stock on ‘HousingForAll.Com’ portal
  • ARHCs programme gives rental lodging to migrants and concrete poor

The nation’s actual property sector has been witnessing a chronic slowdown previous to the Covid-19 pandemic attributable to liquidity points and NBFC disaster. The pandemic solely worsened issues as homebuyers turned cautious about their speedy spending plans. In a transfer to spice up the moribund housing sector and in keeping with the federal government’s goal of Housing For All by 2022, Hardeep Singh Puri, Minister for Housing and Urban Affairs launched ‘CREDAI Awas App’ and NAREDCO on-line portal ‘HousingforAll.com’ on July 31. The minister additionally launched a information guide for an reasonably priced rental housing scheme for migrants.

The CREDAI (Confederation of Real Estate Developers’ Associations of India) Awaas App is a residential undertaking discovery on-line platform that may assist consumers to just about discover initiatives from 220 cities throughout the nation. The app lists all Real Estate Regulatory Authority (RERA)-approved initiatives of CREDAI builders.

The Real Estate (Regulation and Development) Act, 2016 protects house purchasers because it mandates {that a} minimal 70 per cent of the consumers’ cash must be saved in a separate account and this may be allotted to the builders just for building and land-related prices. Moreover, builders and builders can not ask for greater than 10 per cent of the property price as advance cost.

The NAREDCO (National Real Estate Development Council) portal ‘HousingForAll.Com’ will assist consumers to entry one of the best priced stock of builders. The consumers will have the ability to view full itemizing particulars, together with flooring plans and room dimensions. The portal will solely show RERA-registered initiatives and there will likely be third-party doc verification for all of the initiatives listed on the web site. Home consumers will have the ability to guide properties straight from the builders on-line at one of the best costs.

Mr Puri additionally launched the data pack of ‘Affordable Rental Housing Complexes’ (ARHCs) programme, which was lately launched to offer rental lodging to the migrant and concrete poor. The ARHCs scheme was launched underneath the aegis of the Pradhan Mantri Awas Yojana – Urban (PMAY-U) as a part of Atma Nirbhar Bharat Abhiyan.

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