The Real Estate (Regulation and Development) Act (RERA) has been instrumental in consolidating and strengthening real estate laws, aiming to avoid scams and malpractice. However, illegal activities still leave customers vulnerable. Despite government efforts to ensure timely real estate construction through various infrastructure funds, housing finance companies, and REITs, there is a critical need to protect buyers making their life's largest investment. Major issues in the real estate sector include illicit land acquisition, long gestational periods, and non-compliance with guidelines. Construction often comes to a halt due to the malicious intent of contracting companies to create substantial delays in property delivery. To address these challenges, stronger legal actions are necessary to avoid vulnerabilities. If you encounter such issues, the Chambers of Ravinder Aggarwal are open to you—the best real estate lawyer in Delhi, India.
Why is the Real Estate Sector in India Prominent?
The real estate sector in India is thriving, driven by the country's rapidly growing population, which is set to surpass China in the coming years. Providing housing to such a vast population is a significant task. The Central Government's "Housing for All" initiative under the Pradhan Mantri Awas Yojana (PMAY) and efforts to strengthen the Model Tenancy Act highlight the importance of the sector. Estimates suggest that the real estate market will surpass $1 trillion by the end of this decade, contributing approximately 13% to India's GDP by 2025 or 2026.
Laws Related to the Real Estate Sector in India
The real estate sector is governed by stringent regulations to protect the interests of both buyers and sellers:
- RERA (Real Estate Regulation & Development Act), 2016
- Right to Fair Compensation & Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013
- Transfer of Property Act, 1882
- Registration Act, 1908
Additionally, a fundamental right was provided by the Constitution, which was later modified by the 44th Constitutional Amendment, 1978, ensuring legal rights to property. These laws ensure comprehensive protection for buyers and sellers. To safeguard your property in Delhi, consider consulting a real estate lawyer in Delhi, India.
Traits of a Real Estate Lawyer
A professional real estate lawyer must be well-versed in the relevant laws of the country they practice in. They should possess a keen curiosity and the ability to navigate court proceedings, ensuring justice for their clients. Real estate lawyers must be adept at deciphering complex codes and evidence, as civil suits can take a long time to resolve. Effective presentation of facts and figures is crucial to expedite court decisions. Therefore, choosing a wise and experienced real estate lawyer in Delhi, India, is essential.
Responsibilities of a Real Estate Lawyer
A real estate lawyer in Delhi, India, must be meticulous with paperwork, as it is a critical aspect of property transactions. When dealing with property transfers, the lawyer should thoroughly assess purchase agreements to ensure their client faces no risks. For property purchases, they must also evaluate financial transactions and ensure proper documentation for court presentations. Additionally, real estate lawyers should verify the provision of insurance policy papers by sellers.
Areas of Practice by Chambers of Ravinder Aggarwal - Best Real Estate Lawyer in Delhi
The Chambers of Ravinder Aggarwal is a trusted name for resolving real estate issues. The advocate specializes in RERA non-compliance, builder or developer claims, property transfers, property partitions, and more. Ravinder Aggarwal is a professional real estate lawyer with extensive expertise in this domain. The team closely monitors new developments and amendments in real estate laws to adopt them swiftly, serving the society that stands to benefit the most. The variety of cases handled makes him the best real estate lawyer in Delhi, India.
Conclusion
The Chambers of Ravinder Aggarwal offers pan-India online consultations for property matters and disputes. Visit the website to book an appointment online, and the legal team will take care of the rest. Trust Ravinder Aggarwal for the best legal assistance in real estate matters in Delhi, India.