Bangalore: The Karnataka state government is planning to come up with new law that would protect the property buyers from fraudulent real estate developers. The state government will bring in new legislation that would ensure much transparency, scrutinize the documents thoroughly and clearly specify the project status before people invest in their dream home.In order to secure the property buyers and housing societies from the cheaters, the state government has decided to prepare a new bill that will merge some terms of the Karnataka State Cooperative Societies Act and Karnataka Land Revenue Act.Currently the projects require approval from various bodies like BDA, BMRDA, BBMP and pollution control agency. The new proposed bill will eliminate these stages however by making project registration mandatory and also make developers to meet all construction needs. This will bring clarity in the home buying process and clearly determine the project completion time.According to the sources the proposed bill is likely based on the Real Estate (Regulation and Development) Bill of 2013.Developers don’t seem to be happy with the new law fearing about increased obstacles and elongated construction process.According to the secretary of CREDAI Bangalore, the additional legislation will do no good to the situation. The government should think of executing the existing laws that are better to control the developers and protect the interest of the homebuyers.займ на карту без отказов круглосуточновзять кредит онлайн