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The Enforcement Directorate (ED) and the Income-Tax (IT) Department sleuths are collecting vital evidences against Faris after a preliminary probe revealed he had invested a huge sum of black money in the real estate sector.
The Income Tax department officials raided the houses and establishments of Faris Abubaker in Kochi, Koyilandy, Chennai, Bengaluru, Mumbai, and Thrissur.
SEBI is considering reducing the size of Real Estate Investment Trusts, allowing them to hold just a single asset or a diversified portfolio, to increase supply and flexibility for investors, said an official.
An amendment of the Real Estate Regulatory Authority (RERA) law is being considered in this regard.
Top DGGI officials said that it is the complexity of GST laws, and the rates that keep changing, that the builders or real estate agents have used to their benefit.
The bench noted that a uniform builder-buyer agreement is required to be framed by the Centre to protect the interests of lakhs of home buyers.
Despite several advantages, one must be careful while purchasing a second-hand house. The most important being the possibility of liabilities associated with the structure.
For residential premises, tenants will have to submit security deposit of maximum two months' rent, while in case of commercial properties, six months' rent will have to be deposited.
Realtors are all geared up for the post-pandemic times once the coronavirus wave subsides and plan to leave no stone unturned to deliver flats as early as possible.
People who show interest in resale property always remain curious to know that what's the reason behind selling it out.