Mumbai - Central Government on Monday has announced implementation of Real estate act, 2016. The act will bring in transparency in the mode of operations taking unauthorized builders to task. "I wish to thank the government for their support and understanding the problems of homebuyers. The rules to deposit 70% of the amount collected and unused will be big boost for stalled projects," said Abhay Upadhyay. Developers will now be required to refund the payment taken from the home buyers. All the required details will be on the website to keep the buyers abreast of the updates, schemes, implementation, etc.
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