Builders wary of title insurance fearing cost escalation
Sunday, August 26, 2018, 2:43 PM
Even as the Real Estate (Regulation and Development) Act makes it mandatory for developers to take title insurance, builders are hesitant to adopt it, saying it may further add to financial burden. A title insurance is a form of indemnity insurance that protects investment in real estate and provides coverage against financial loss arising from title defects and other irregularities pertaining to property acquisition.
Central team to urge Bengal govt to switch over to RERA
Sunday, June 10, 2018, 8:48 AM
The Centre will soon send a team to urge the West Bengal government to switch over to the RERA to protect home buyers interest, an official has said. At a time when the Centre was trying to implement RERA in the country, the West Bengal Housing Industry Regulation Act, 2017, which the state has implemented on its own, is "quite disturbing", the official said.