News & Views on Indian Real Estate

Thursday, September 11, 2008

Good News For Property Buyers In Haryana

According to a bill passed by the Haryana Assembly, realtors in the state will have to register themselves with the government. This spells good news for the common man. Till now, dealers didn't take the responsibility if buyers discovered that the property they have bought belongs to someone else and was sold to them fraudulently. The law would require a property dealer to obtain a government licence to operate. This licence will have to be renewed every year. Property agents will also be accountable for every deal they help seal and charge commission for. Haryana always needed a law to regulate the activities of its real estate dealers who can operate in a particular city.