Ramesh G Jethwani is a prolific "Letters to Editor writer/columnist, who over the decades has written over a thousand "Letters to editor" and few columns, which have been widely published in leading newspapers in India and in GCC(Gulf countries),These letters to editor/ Columns are a testimony to the power of his ideas,his letters and columns short and precious --have served a very useful purpose in drawing the attention of authorities about important issues concerning society and the governmnet. His father always emphasized the importance of public service Read more

Economy

Boost for home buyers

Deccan chronicle.14th March 2016-LE.

Sir, passage of real estate bill which has been hanging fire since 2009, in parliament with support from all parties is a step in right direction(real Estate bill :Good for customer,developer, sector DC-march 13) The bill governs both commercial and residential Read More

Boost for home buyers
Deccan chronicle.14th March 2016-LE.

Sir, passage of real estate bill which has been hanging fire since 2009, in parliament with support from all parties is a step in right direction(real Estate bill :Good for customer,developer, sector DC-march 13) The bill governs both commercial and residential projects and will lead to the setting up of a sate level real estate regulatory authority.This bill will not buyers from unscrupulous builders but also from private banks only safeguard.

- Ramesh G Jethwani Bangalore.

Protecting Buyers

Deccan Herald March 14.2016, L.E.

The passing of real estate bill in parliament is most welcome step.for opposition and ruling parties who have been at loggerheads over various bills,the across the board support to this bill is a step in right direction... Read More

Protecting Buyers
Deccan Herald March 14.2016, L.E.

The passing of real estate bill in parliament is most welcome step.for opposition and ruling parties who have been at loggerheads over various bills,the across the board support to this bill is a step in right direction.

The real estate sector has led to boom in construction,creating huge jobs in unorganized sector . The bill will safeguard buyers from unscrupulous builders and also empower banks.

- Ramesh G Jethwani Bangalore.

A welcome development

Arab News-Friday 18 March 2016-LE

This refers to the passage of real estate bill in the Indian Parliament. The passage of the bill is a welcome step as opposition and ruling parties have always been at loggerheads on various issues and passage of many important bills were stalled... Read More

A welcome development
Arab News-Friday 18 March 2016-LE

This refers to the passage of real estate bill in the Indian Parliament. The passage of the bill is a welcome step as opposition and ruling parties have always been at loggerheads on various issues and passage of many important bills were stalled.

The Real Estate (Regulation and Development) Bill, 2013, is designed to protect consumer interest, ensure efficiency in all property-related transactions, improve accountability of developers, boost transparency and attract more investments to the sector.

After the bill comes into effect, it will govern both commercial and residential projects and will lead to setting up of state-level real estate developing regulatory authority.

In order to safeguard the interests of investors who put their hard-earned money in real estate, one of the key aspects of this bill is that developers will have to deposit minimum 70 % of funds collected from investors that includes land cost into a separate escrow account to meet construction cost.

Real estate sector has contributed to construction boom, created job opportunities and has multiplier effect on growth of economy leading to huge demand of construction equipment, steel, cement etc. But unfortunately many unscrupulous builders simply used to disappear by selling flats without even starting or completing the project.

This bill will not only safeguard buyers from unscrupulous builders but also the banking sector. It will also benefit a large number of NRIs living in Saudi Arabia and other GCC countries. It will safeguard their interests and protect them from unscrupulous builders.

- Ramesh G Jethwani Bangalore.

New real estate bill will protect NRIs

Gulf times-20th March 2016-LE

Dear Sir, Passage of the new Real Estate Bill by Indian parliament is a welcome step, especially since opposition and ruling parties have been at loggerheads, stalling many important bills. Support to this bill by all political parties across the table is a step in the right ... Read More

New real estate bill will protect NRIs
Gulf times-20th March 2016-LE

Dear Sir,
Passage of the new Real Estate Bill by Indian parliament is a welcome step, especially since opposition and ruling parties have been at loggerheads, stalling many important bills. Support to this bill by all political parties across the table is a step in the right direction. It had been hanging fire since 2009.

The Real Estate (Regulation and Development) Bill, 2013, is designed to protect consumer interest, ensure efficiency in all property-related transactions, improve accountability of developers, boost transparency and attract more investments to the sector. It will now be difficult for promoters and builders to delay projects, with the bill giving relief to home-buyers and proposing imprisonment of up to three years besides monetary penalties for any violation of rules.

As per the bill, developers will have to deposit a minimum 70% of funds collected from investors into a separate escrow account to meet construction costs. And they have to sell on carpet basis not on built-up area.

Many unscrupulous builders simply used to vanish after collecting money from buyers without even starting or completing the project. A large number of non-resident Indians (NRIs) working in Qatar and other GCC countries have been their victims. The new bill will safeguard their investments and rights.

- Ramesh G Jethwani Bangalore.

Big relief

The Telegraph-23rd March 2016

Sir - The passing of the real estate (regulation and development) bill in both Houses of Parliament is a welcome step ("Home protection", March 11). The Opposition and the ruling parties have been at loggerheads and prevented many important bills from being ... Read More

Big relief
The Telegraph-23rd March 2016

Sir - The passing of the real estate (regulation and development) bill in both Houses of Parliament is a welcome step ("Home protection", March 11). The Opposition and the ruling parties have been at loggerheads and prevented many important bills from being passed. However, the unanimous support shown for this bill, which has been delayed since 2013, is a step in the right direction. This bill seeks to uphold and safeguard the interests of property buyers who invest their own or borrowed money in real estate. It will govern both commercial and residential projects and set up state level regulatory authorities.

One of the key aspects of the bill is that developers will have to deposit a minimum of 70 per cent of funds collected from investors, including land cost, into a separate escrow account to meet construction costs. They have to sell on the basis of carpet area and not the super built-up area.

The growth in the real estate sector has led to a boom in the construction sector. This has created job opportunities, which has had a multiplier effect on the growth of the economy. It generated demand for construction equipment and material such as steel and cement. On the flip side, builders who do not complete their projects sell the apartments and disappear with the money. As a result, buyers are burdened with paying the equated monthly installment for property that they did not even take possession of.

This bill seeks to safeguard buyers from such unscrupulous builders.

- Ramesh G Jethwani Bangalore.
«
»