Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]Code Context
trigger_error($message, E_USER_DEPRECATED);
}
$message = 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.' $stackFrame = (int) 1 $trace = [ (int) 0 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php', 'line' => (int) 2421, 'function' => 'deprecationWarning', 'args' => [ (int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.' ] ], (int) 1 => [ 'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php', 'line' => (int) 73, 'function' => 'offsetGet', 'class' => 'Cake\Http\ServerRequest', 'object' => object(Cake\Http\ServerRequest) {}, 'type' => '->', 'args' => [ (int) 0 => 'catslug' ] ], (int) 2 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php', 'line' => (int) 610, 'function' => 'printArticle', 'class' => 'App\Controller\ArtileDetailController', 'object' => object(App\Controller\ArtileDetailController) {}, 'type' => '->', 'args' => [] ], (int) 3 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php', 'line' => (int) 120, 'function' => 'invokeAction', 'class' => 'Cake\Controller\Controller', 'object' => object(App\Controller\ArtileDetailController) {}, 'type' => '->', 'args' => [] ], (int) 4 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php', 'line' => (int) 94, 'function' => '_invoke', 'class' => 'Cake\Http\ActionDispatcher', 'object' => object(Cake\Http\ActionDispatcher) {}, 'type' => '->', 'args' => [ (int) 0 => object(App\Controller\ArtileDetailController) {} ] ], (int) 5 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php', 'line' => (int) 235, 'function' => 'dispatch', 'class' => 'Cake\Http\ActionDispatcher', 'object' => object(Cake\Http\ActionDispatcher) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 6 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 65, 'function' => '__invoke', 'class' => 'Cake\Http\BaseApplication', 'object' => object(App\Application) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {}, (int) 2 => object(Cake\Http\Runner) {} ] ], (int) 7 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php', 'line' => (int) 162, 'function' => '__invoke', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 8 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 65, 'function' => '__invoke', 'class' => 'Cake\Routing\Middleware\RoutingMiddleware', 'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {}, (int) 2 => object(Cake\Http\Runner) {} ] ], (int) 9 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php', 'line' => (int) 88, 'function' => '__invoke', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 10 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 65, 'function' => '__invoke', 'class' => 'Cake\Routing\Middleware\AssetMiddleware', 'object' => object(Cake\Routing\Middleware\AssetMiddleware) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {}, (int) 2 => object(Cake\Http\Runner) {} ] ], (int) 11 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php', 'line' => (int) 96, 'function' => '__invoke', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 12 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 65, 'function' => '__invoke', 'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware', 'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {}, (int) 2 => object(Cake\Http\Runner) {} ] ], (int) 13 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 51, 'function' => '__invoke', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 14 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php', 'line' => (int) 98, 'function' => 'run', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\MiddlewareQueue) {}, (int) 1 => object(Cake\Http\ServerRequest) {}, (int) 2 => object(Cake\Http\Response) {} ] ], (int) 15 => [ 'file' => '/home/brlfuser/public_html/webroot/index.php', 'line' => (int) 39, 'function' => 'run', 'class' => 'Cake\Http\Server', 'object' => object(Cake\Http\Server) {}, 'type' => '->', 'args' => [] ] ] $frame = [ 'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php', 'line' => (int) 73, 'function' => 'offsetGet', 'class' => 'Cake\Http\ServerRequest', 'object' => object(Cake\Http\ServerRequest) { trustProxy => false [protected] params => [ [maximum depth reached] ] [protected] data => [[maximum depth reached]] [protected] query => [[maximum depth reached]] [protected] cookies => [[maximum depth reached]] [protected] _environment => [ [maximum depth reached] ] [protected] url => 'latest-news-updates/builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652/print' [protected] base => '' [protected] webroot => '/' [protected] here => '/latest-news-updates/builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652/print' [protected] trustedProxies => [[maximum depth reached]] [protected] _input => null [protected] _detectors => [ [maximum depth reached] ] [protected] _detectorCache => [ [maximum depth reached] ] [protected] stream => object(Zend\Diactoros\PhpInputStream) {} [protected] uri => object(Zend\Diactoros\Uri) {} [protected] session => object(Cake\Http\Session) {} [protected] attributes => [[maximum depth reached]] [protected] emulatedAttributes => [ [maximum depth reached] ] [protected] uploadedFiles => [[maximum depth reached]] [protected] protocol => null [protected] requestTarget => null [private] deprecatedProperties => [ [maximum depth reached] ] }, 'type' => '->', 'args' => [ (int) 0 => 'catslug' ] ]deprecationWarning - CORE/src/Core/functions.php, line 311 Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421 App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73 Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610 Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120 Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94 Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51 Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]Code Context
trigger_error($message, E_USER_DEPRECATED);
}
$message = 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.' $stackFrame = (int) 1 $trace = [ (int) 0 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php', 'line' => (int) 2421, 'function' => 'deprecationWarning', 'args' => [ (int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.' ] ], (int) 1 => [ 'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php', 'line' => (int) 74, 'function' => 'offsetGet', 'class' => 'Cake\Http\ServerRequest', 'object' => object(Cake\Http\ServerRequest) {}, 'type' => '->', 'args' => [ (int) 0 => 'artileslug' ] ], (int) 2 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php', 'line' => (int) 610, 'function' => 'printArticle', 'class' => 'App\Controller\ArtileDetailController', 'object' => object(App\Controller\ArtileDetailController) {}, 'type' => '->', 'args' => [] ], (int) 3 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php', 'line' => (int) 120, 'function' => 'invokeAction', 'class' => 'Cake\Controller\Controller', 'object' => object(App\Controller\ArtileDetailController) {}, 'type' => '->', 'args' => [] ], (int) 4 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php', 'line' => (int) 94, 'function' => '_invoke', 'class' => 'Cake\Http\ActionDispatcher', 'object' => object(Cake\Http\ActionDispatcher) {}, 'type' => '->', 'args' => [ (int) 0 => object(App\Controller\ArtileDetailController) {} ] ], (int) 5 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php', 'line' => (int) 235, 'function' => 'dispatch', 'class' => 'Cake\Http\ActionDispatcher', 'object' => object(Cake\Http\ActionDispatcher) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 6 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 65, 'function' => '__invoke', 'class' => 'Cake\Http\BaseApplication', 'object' => object(App\Application) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {}, (int) 2 => object(Cake\Http\Runner) {} ] ], (int) 7 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php', 'line' => (int) 162, 'function' => '__invoke', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 8 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 65, 'function' => '__invoke', 'class' => 'Cake\Routing\Middleware\RoutingMiddleware', 'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {}, (int) 2 => object(Cake\Http\Runner) {} ] ], (int) 9 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php', 'line' => (int) 88, 'function' => '__invoke', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 10 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 65, 'function' => '__invoke', 'class' => 'Cake\Routing\Middleware\AssetMiddleware', 'object' => object(Cake\Routing\Middleware\AssetMiddleware) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {}, (int) 2 => object(Cake\Http\Runner) {} ] ], (int) 11 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php', 'line' => (int) 96, 'function' => '__invoke', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 12 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 65, 'function' => '__invoke', 'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware', 'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {}, (int) 2 => object(Cake\Http\Runner) {} ] ], (int) 13 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php', 'line' => (int) 51, 'function' => '__invoke', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\ServerRequest) {}, (int) 1 => object(Cake\Http\Response) {} ] ], (int) 14 => [ 'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php', 'line' => (int) 98, 'function' => 'run', 'class' => 'Cake\Http\Runner', 'object' => object(Cake\Http\Runner) {}, 'type' => '->', 'args' => [ (int) 0 => object(Cake\Http\MiddlewareQueue) {}, (int) 1 => object(Cake\Http\ServerRequest) {}, (int) 2 => object(Cake\Http\Response) {} ] ], (int) 15 => [ 'file' => '/home/brlfuser/public_html/webroot/index.php', 'line' => (int) 39, 'function' => 'run', 'class' => 'Cake\Http\Server', 'object' => object(Cake\Http\Server) {}, 'type' => '->', 'args' => [] ] ] $frame = [ 'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php', 'line' => (int) 74, 'function' => 'offsetGet', 'class' => 'Cake\Http\ServerRequest', 'object' => object(Cake\Http\ServerRequest) { trustProxy => false [protected] params => [ [maximum depth reached] ] [protected] data => [[maximum depth reached]] [protected] query => [[maximum depth reached]] [protected] cookies => [[maximum depth reached]] [protected] _environment => [ [maximum depth reached] ] [protected] url => 'latest-news-updates/builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652/print' [protected] base => '' [protected] webroot => '/' [protected] here => '/latest-news-updates/builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652/print' [protected] trustedProxies => [[maximum depth reached]] [protected] _input => null [protected] _detectors => [ [maximum depth reached] ] [protected] _detectorCache => [ [maximum depth reached] ] [protected] stream => object(Zend\Diactoros\PhpInputStream) {} [protected] uri => object(Zend\Diactoros\Uri) {} [protected] session => object(Cake\Http\Session) {} [protected] attributes => [[maximum depth reached]] [protected] emulatedAttributes => [ [maximum depth reached] ] [protected] uploadedFiles => [[maximum depth reached]] [protected] protocol => null [protected] requestTarget => null [private] deprecatedProperties => [ [maximum depth reached] ] }, 'type' => '->', 'args' => [ (int) 0 => 'artileslug' ] ]deprecationWarning - CORE/src/Core/functions.php, line 311 Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421 App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74 Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610 Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120 Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94 Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51 Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]Code Contextif (Configure::read('debug')) {
trigger_error($message, E_USER_WARNING);
} else {
$response = object(Cake\Http\Response) { 'status' => (int) 200, 'contentType' => 'text/html', 'headers' => [ 'Content-Type' => [ [maximum depth reached] ] ], 'file' => null, 'fileRange' => [], 'cookies' => object(Cake\Http\Cookie\CookieCollection) {}, 'cacheDirectives' => [], 'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-trace').style.display = (document.getElementById('cakeErr67f76a5b5dadf-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f76a5b5dadf-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-code').style.display = (document.getElementById('cakeErr67f76a5b5dadf-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-context').style.display = (document.getElementById('cakeErr67f76a5b5dadf-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f76a5b5dadf-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">> </span></span></code> <span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/> </span></code></span> <code><span style="color: #000000"><span style="color: #0000BB"> </span><span style="color: #007700"><</span><span style="color: #0000BB">meta http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type" </span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html; charset=utf-8"</span><span style="color: #007700">/> </span></span></code></pre><pre id="cakeErr67f76a5b5dadf-context" class="cake-context" style="display: none;">$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp' $dataForView = [ 'article_current' => object(App\Model\Entity\Article) { 'id' => (int) 31578, 'title' => 'Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'subheading' => '', 'description' => '<div align="justify"> -The Times of India<br /> <em><br /> NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /> <br /> The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /> <br /> The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /> <br /> Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /> <br /> Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /> </div>', 'credit_writer' => 'The Times of India, 29 June, 2016, http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4679652, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'tags' => [ [maximum depth reached] ], 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[hasErrors]' => false, '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'Articles' }, 'articleid' => (int) 31578, 'metaTitle' => 'LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'metaKeywords' => 'Delayed Projects,Real Estate Regulatory Authority,Builders,Real Estate (Development and Regulation) Act (2016),RERA,Consumer Rights', 'metaDesc' => ' -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers...', 'disp' => '<div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div>', 'lang' => 'English', 'SITE_URL' => 'https://im4change.in/', 'site_title' => 'im4change', 'adminprix' => 'admin' ] $article_current = object(App\Model\Entity\Article) { 'id' => (int) 31578, 'title' => 'Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'subheading' => '', 'description' => '<div align="justify"> -The Times of India<br /> <em><br /> NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /> <br /> The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /> <br /> The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /> <br /> Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /> <br /> Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /> </div>', 'credit_writer' => 'The Times of India, 29 June, 2016, http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4679652, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'tags' => [ (int) 0 => object(Cake\ORM\Entity) {}, (int) 1 => object(Cake\ORM\Entity) {}, (int) 2 => object(Cake\ORM\Entity) {}, (int) 3 => object(Cake\ORM\Entity) {}, (int) 4 => object(Cake\ORM\Entity) {}, (int) 5 => object(Cake\ORM\Entity) {} ], 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ '*' => true, 'id' => false ], '[dirty]' => [], '[original]' => [], '[virtual]' => [], '[hasErrors]' => false, '[errors]' => [], '[invalid]' => [], '[repository]' => 'Articles' } $articleid = (int) 31578 $metaTitle = 'LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha' $metaKeywords = 'Delayed Projects,Real Estate Regulatory Authority,Builders,Real Estate (Development and Regulation) Act (2016),RERA,Consumer Rights' $metaDesc = ' -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers...' $disp = '<div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div>' $lang = 'English' $SITE_URL = 'https://im4change.in/' $site_title = 'im4change' $adminprix = 'admin'</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8 Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413 Cake\View\View::_render() - CORE/src/View/View.php, line 1374 Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927 Cake\View\View::render() - CORE/src/View/View.php, line 885 Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791 Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126 Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94 Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652.html"/> <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/> <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css" media="all"/> <title>LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha | Im4change.org</title> <meta name="description" content=" -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers..."/> <script src="https://im4change.in/js/jquery-1.10.2.js"></script> <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script> <script language="javascript" type="text/javascript"> $(document).ready(function () { var img = $("img")[0]; // Get my img elem var pic_real_width, pic_real_height; $("<img/>") // Make in memory copy of image to avoid css issues .attr("src", $(img).attr("src")) .load(function () { pic_real_width = this.width; // Note: $(this).width() will not pic_real_height = this.height; // work for in memory images. }); }); </script> <style type="text/css"> @media screen { div.divFooter { display: block; } } @media print { .printbutton { display: none !important; } } </style> </head> <body> <table cellpadding="0" cellspacing="0" border="0" width="98%" align="center"> <tr> <td class="top_bg"> <div class="divFooter"> <img src="https://im4change.in/images/logo1.jpg" height="59" border="0" alt="Resource centre on India's rural distress" style="padding-top:14px;"/> </div> </td> </tr> <tr> <td id="topspace"> </td> </tr> <tr id="topspace"> <td> </td> </tr> <tr> <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton"> <form><input type="button" value=" Print this page " onclick="window.print();return false;"/></form> </td> </tr> <tr> <td width="100%"> <h1 class="news_headlines" style="font-style:normal"> <strong>Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha</strong></h1> </td> </tr> <tr> <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3"> <div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div> </font> </td> </tr> <tr> <td> </td> </tr> <tr> <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;"> <form><input type="button" value=" Print this page " onclick="window.print();return false;"/></form> </td> </tr> </table></body> </html>' } $maxBufferLength = (int) 8192 $file = '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php' $line = (int) 853 $message = 'Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853'Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 48 Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141 [main] - ROOT/webroot/index.php, line 39
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]Code Context$response->getStatusCode(),
($reasonPhrase ? ' ' . $reasonPhrase : '')
));
$response = object(Cake\Http\Response) { 'status' => (int) 200, 'contentType' => 'text/html', 'headers' => [ 'Content-Type' => [ [maximum depth reached] ] ], 'file' => null, 'fileRange' => [], 'cookies' => object(Cake\Http\Cookie\CookieCollection) {}, 'cacheDirectives' => [], 'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-trace').style.display = (document.getElementById('cakeErr67f76a5b5dadf-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f76a5b5dadf-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-code').style.display = (document.getElementById('cakeErr67f76a5b5dadf-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-context').style.display = (document.getElementById('cakeErr67f76a5b5dadf-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f76a5b5dadf-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">> </span></span></code> <span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/> </span></code></span> <code><span style="color: #000000"><span style="color: #0000BB"> </span><span style="color: #007700"><</span><span style="color: #0000BB">meta http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type" </span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html; charset=utf-8"</span><span style="color: #007700">/> </span></span></code></pre><pre id="cakeErr67f76a5b5dadf-context" class="cake-context" style="display: none;">$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp' $dataForView = [ 'article_current' => object(App\Model\Entity\Article) { 'id' => (int) 31578, 'title' => 'Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'subheading' => '', 'description' => '<div align="justify"> -The Times of India<br /> <em><br /> NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /> <br /> The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /> <br /> The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /> <br /> Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /> <br /> Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /> </div>', 'credit_writer' => 'The Times of India, 29 June, 2016, http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4679652, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'tags' => [ [maximum depth reached] ], 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[hasErrors]' => false, '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'Articles' }, 'articleid' => (int) 31578, 'metaTitle' => 'LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'metaKeywords' => 'Delayed Projects,Real Estate Regulatory Authority,Builders,Real Estate (Development and Regulation) Act (2016),RERA,Consumer Rights', 'metaDesc' => ' -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers...', 'disp' => '<div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div>', 'lang' => 'English', 'SITE_URL' => 'https://im4change.in/', 'site_title' => 'im4change', 'adminprix' => 'admin' ] $article_current = object(App\Model\Entity\Article) { 'id' => (int) 31578, 'title' => 'Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'subheading' => '', 'description' => '<div align="justify"> -The Times of India<br /> <em><br /> NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /> <br /> The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /> <br /> The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /> <br /> Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /> <br /> Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /> </div>', 'credit_writer' => 'The Times of India, 29 June, 2016, http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4679652, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'tags' => [ (int) 0 => object(Cake\ORM\Entity) {}, (int) 1 => object(Cake\ORM\Entity) {}, (int) 2 => object(Cake\ORM\Entity) {}, (int) 3 => object(Cake\ORM\Entity) {}, (int) 4 => object(Cake\ORM\Entity) {}, (int) 5 => object(Cake\ORM\Entity) {} ], 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ '*' => true, 'id' => false ], '[dirty]' => [], '[original]' => [], '[virtual]' => [], '[hasErrors]' => false, '[errors]' => [], '[invalid]' => [], '[repository]' => 'Articles' } $articleid = (int) 31578 $metaTitle = 'LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha' $metaKeywords = 'Delayed Projects,Real Estate Regulatory Authority,Builders,Real Estate (Development and Regulation) Act (2016),RERA,Consumer Rights' $metaDesc = ' -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers...' $disp = '<div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div>' $lang = 'English' $SITE_URL = 'https://im4change.in/' $site_title = 'im4change' $adminprix = 'admin'</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8 Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413 Cake\View\View::_render() - CORE/src/View/View.php, line 1374 Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927 Cake\View\View::render() - CORE/src/View/View.php, line 885 Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791 Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126 Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94 Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652.html"/> <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/> <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css" media="all"/> <title>LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha | Im4change.org</title> <meta name="description" content=" -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers..."/> <script src="https://im4change.in/js/jquery-1.10.2.js"></script> <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script> <script language="javascript" type="text/javascript"> $(document).ready(function () { var img = $("img")[0]; // Get my img elem var pic_real_width, pic_real_height; $("<img/>") // Make in memory copy of image to avoid css issues .attr("src", $(img).attr("src")) .load(function () { pic_real_width = this.width; // Note: $(this).width() will not pic_real_height = this.height; // work for in memory images. }); }); </script> <style type="text/css"> @media screen { div.divFooter { display: block; } } @media print { .printbutton { display: none !important; } } </style> </head> <body> <table cellpadding="0" cellspacing="0" border="0" width="98%" align="center"> <tr> <td class="top_bg"> <div class="divFooter"> <img src="https://im4change.in/images/logo1.jpg" height="59" border="0" alt="Resource centre on India's rural distress" style="padding-top:14px;"/> </div> </td> </tr> <tr> <td id="topspace"> </td> </tr> <tr id="topspace"> <td> </td> </tr> <tr> <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton"> <form><input type="button" value=" Print this page " onclick="window.print();return false;"/></form> </td> </tr> <tr> <td width="100%"> <h1 class="news_headlines" style="font-style:normal"> <strong>Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha</strong></h1> </td> </tr> <tr> <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3"> <div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div> </font> </td> </tr> <tr> <td> </td> </tr> <tr> <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;"> <form><input type="button" value=" Print this page " onclick="window.print();return false;"/></form> </td> </tr> </table></body> </html>' } $reasonPhrase = 'OK'header - [internal], line ?? Cake\Http\ResponseEmitter::emitStatusLine() - CORE/src/Http/ResponseEmitter.php, line 148 Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 54 Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141 [main] - ROOT/webroot/index.php, line 39
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]Notice (8): Undefined variable: urlPrefix [APP/Template/Layout/printlayout.ctp, line 8]Code Context$value
), $first);
$first = false;
$response = object(Cake\Http\Response) { 'status' => (int) 200, 'contentType' => 'text/html', 'headers' => [ 'Content-Type' => [ [maximum depth reached] ] ], 'file' => null, 'fileRange' => [], 'cookies' => object(Cake\Http\Cookie\CookieCollection) {}, 'cacheDirectives' => [], 'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-trace').style.display = (document.getElementById('cakeErr67f76a5b5dadf-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f76a5b5dadf-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-code').style.display = (document.getElementById('cakeErr67f76a5b5dadf-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f76a5b5dadf-context').style.display = (document.getElementById('cakeErr67f76a5b5dadf-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f76a5b5dadf-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">> </span></span></code> <span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/> </span></code></span> <code><span style="color: #000000"><span style="color: #0000BB"> </span><span style="color: #007700"><</span><span style="color: #0000BB">meta http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type" </span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html; charset=utf-8"</span><span style="color: #007700">/> </span></span></code></pre><pre id="cakeErr67f76a5b5dadf-context" class="cake-context" style="display: none;">$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp' $dataForView = [ 'article_current' => object(App\Model\Entity\Article) { 'id' => (int) 31578, 'title' => 'Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'subheading' => '', 'description' => '<div align="justify"> -The Times of India<br /> <em><br /> NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /> <br /> The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /> <br /> The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /> <br /> Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /> <br /> Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /> </div>', 'credit_writer' => 'The Times of India, 29 June, 2016, http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4679652, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'tags' => [ [maximum depth reached] ], 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[hasErrors]' => false, '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'Articles' }, 'articleid' => (int) 31578, 'metaTitle' => 'LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'metaKeywords' => 'Delayed Projects,Real Estate Regulatory Authority,Builders,Real Estate (Development and Regulation) Act (2016),RERA,Consumer Rights', 'metaDesc' => ' -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers...', 'disp' => '<div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div>', 'lang' => 'English', 'SITE_URL' => 'https://im4change.in/', 'site_title' => 'im4change', 'adminprix' => 'admin' ] $article_current = object(App\Model\Entity\Article) { 'id' => (int) 31578, 'title' => 'Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'subheading' => '', 'description' => '<div align="justify"> -The Times of India<br /> <em><br /> NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /> <br /> The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /> <br /> The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /> <br /> Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /> <br /> Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /> </div>', 'credit_writer' => 'The Times of India, 29 June, 2016, http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4679652, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'tags' => [ (int) 0 => object(Cake\ORM\Entity) {}, (int) 1 => object(Cake\ORM\Entity) {}, (int) 2 => object(Cake\ORM\Entity) {}, (int) 3 => object(Cake\ORM\Entity) {}, (int) 4 => object(Cake\ORM\Entity) {}, (int) 5 => object(Cake\ORM\Entity) {} ], 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ '*' => true, 'id' => false ], '[dirty]' => [], '[original]' => [], '[virtual]' => [], '[hasErrors]' => false, '[errors]' => [], '[invalid]' => [], '[repository]' => 'Articles' } $articleid = (int) 31578 $metaTitle = 'LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha' $metaKeywords = 'Delayed Projects,Real Estate Regulatory Authority,Builders,Real Estate (Development and Regulation) Act (2016),RERA,Consumer Rights' $metaDesc = ' -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers...' $disp = '<div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div>' $lang = 'English' $SITE_URL = 'https://im4change.in/' $site_title = 'im4change' $adminprix = 'admin'</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8 Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413 Cake\View\View::_render() - CORE/src/View/View.php, line 1374 Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927 Cake\View\View::render() - CORE/src/View/View.php, line 885 Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791 Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126 Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94 Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652.html"/> <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/> <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css" media="all"/> <title>LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha | Im4change.org</title> <meta name="description" content=" -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers..."/> <script src="https://im4change.in/js/jquery-1.10.2.js"></script> <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script> <script language="javascript" type="text/javascript"> $(document).ready(function () { var img = $("img")[0]; // Get my img elem var pic_real_width, pic_real_height; $("<img/>") // Make in memory copy of image to avoid css issues .attr("src", $(img).attr("src")) .load(function () { pic_real_width = this.width; // Note: $(this).width() will not pic_real_height = this.height; // work for in memory images. }); }); </script> <style type="text/css"> @media screen { div.divFooter { display: block; } } @media print { .printbutton { display: none !important; } } </style> </head> <body> <table cellpadding="0" cellspacing="0" border="0" width="98%" align="center"> <tr> <td class="top_bg"> <div class="divFooter"> <img src="https://im4change.in/images/logo1.jpg" height="59" border="0" alt="Resource centre on India's rural distress" style="padding-top:14px;"/> </div> </td> </tr> <tr> <td id="topspace"> </td> </tr> <tr id="topspace"> <td> </td> </tr> <tr> <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton"> <form><input type="button" value=" Print this page " onclick="window.print();return false;"/></form> </td> </tr> <tr> <td width="100%"> <h1 class="news_headlines" style="font-style:normal"> <strong>Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha</strong></h1> </td> </tr> <tr> <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3"> <div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div> </font> </td> </tr> <tr> <td> </td> </tr> <tr> <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;"> <form><input type="button" value=" Print this page " onclick="window.print();return false;"/></form> </td> </tr> </table></body> </html>' } $cookies = [] $values = [ (int) 0 => 'text/html; charset=UTF-8' ] $name = 'Content-Type' $first = true $value = 'text/html; charset=UTF-8'header - [internal], line ?? Cake\Http\ResponseEmitter::emitHeaders() - CORE/src/Http/ResponseEmitter.php, line 181 Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 55 Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141 [main] - ROOT/webroot/index.php, line 39
<head>
<link rel="canonical" href="<?php echo Configure::read('SITE_URL'); ?><?php echo $urlPrefix;?><?php echo $article_current->category->slug; ?>/<?php echo $article_current->seo_url; ?>.html"/>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp' $dataForView = [ 'article_current' => object(App\Model\Entity\Article) { 'id' => (int) 31578, 'title' => 'Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'subheading' => '', 'description' => '<div align="justify"> -The Times of India<br /> <em><br /> NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /> <br /> The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /> <br /> The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /> <br /> Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /> <br /> Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /> </div>', 'credit_writer' => 'The Times of India, 29 June, 2016, http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4679652, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'tags' => [ [maximum depth reached] ], 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ [maximum depth reached] ], '[dirty]' => [[maximum depth reached]], '[original]' => [[maximum depth reached]], '[virtual]' => [[maximum depth reached]], '[hasErrors]' => false, '[errors]' => [[maximum depth reached]], '[invalid]' => [[maximum depth reached]], '[repository]' => 'Articles' }, 'articleid' => (int) 31578, 'metaTitle' => 'LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'metaKeywords' => 'Delayed Projects,Real Estate Regulatory Authority,Builders,Real Estate (Development and Regulation) Act (2016),RERA,Consumer Rights', 'metaDesc' => ' -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers...', 'disp' => '<div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div>', 'lang' => 'English', 'SITE_URL' => 'https://im4change.in/', 'site_title' => 'im4change', 'adminprix' => 'admin' ] $article_current = object(App\Model\Entity\Article) { 'id' => (int) 31578, 'title' => 'Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha', 'subheading' => '', 'description' => '<div align="justify"> -The Times of India<br /> <em><br /> NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /> <br /> The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /> <br /> The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /> <br /> Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /> <br /> Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /> </div>', 'credit_writer' => 'The Times of India, 29 June, 2016, http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?', 'article_img' => '', 'article_img_thumb' => '', 'status' => (int) 1, 'show_on_home' => (int) 1, 'lang' => 'EN', 'category_id' => (int) 16, 'tag_keyword' => '', 'seo_url' => 'builders-may-have-to-pay-11-interest-on-delayed-projects-prabhakar-sinha-4679652', 'meta_title' => null, 'meta_keywords' => null, 'meta_description' => null, 'noindex' => (int) 0, 'publish_date' => object(Cake\I18n\FrozenDate) {}, 'most_visit_section_id' => null, 'article_big_img' => null, 'liveid' => (int) 4679652, 'created' => object(Cake\I18n\FrozenTime) {}, 'modified' => object(Cake\I18n\FrozenTime) {}, 'edate' => '', 'tags' => [ (int) 0 => object(Cake\ORM\Entity) {}, (int) 1 => object(Cake\ORM\Entity) {}, (int) 2 => object(Cake\ORM\Entity) {}, (int) 3 => object(Cake\ORM\Entity) {}, (int) 4 => object(Cake\ORM\Entity) {}, (int) 5 => object(Cake\ORM\Entity) {} ], 'category' => object(App\Model\Entity\Category) {}, '[new]' => false, '[accessible]' => [ '*' => true, 'id' => false ], '[dirty]' => [], '[original]' => [], '[virtual]' => [], '[hasErrors]' => false, '[errors]' => [], '[invalid]' => [], '[repository]' => 'Articles' } $articleid = (int) 31578 $metaTitle = 'LATEST NEWS UPDATES | Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha' $metaKeywords = 'Delayed Projects,Real Estate Regulatory Authority,Builders,Real Estate (Development and Regulation) Act (2016),RERA,Consumer Rights' $metaDesc = ' -The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers...' $disp = '<div align="justify">-The Times of India<br /><em><br />NEW DELHI: </em>Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities.<br /><br />The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8.<br /><br />The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent.<br /><br />Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. <br /><br />Please <a href="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?" title="http://timesofindia.indiatimes.com/india/Builders-may-have-to-pay-11-interest-on-delayed-projects/articleshow/52964626.cms?">click here</a> to read more. <br /></div>' $lang = 'English' $SITE_URL = 'https://im4change.in/' $site_title = 'im4change' $adminprix = 'admin'
include - APP/Template/Layout/printlayout.ctp, line 8 Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413 Cake\View\View::_render() - CORE/src/View/View.php, line 1374 Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927 Cake\View\View::render() - CORE/src/View/View.php, line 885 Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791 Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126 Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94 Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96 Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65 Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
![]() |
Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha |
-The Times of India
NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities. The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to be set up in states/UTs within three months of the rules being notified. Builders will have to give information on completion date of a project, size of flats and promised facilities, state the draft rules, published to seek public comments till July 8. The draft real estate rules have been formulated by the housing and urban poverty alleviation ministry within two months of some sections of the Real Estate (Development and Regulation) Act, 2016, coming into force on May 1. The interest rate compensation has been proposed to be 2 percentage points over and above the prime lending rate (PLR) of State Bank of India. Normally, a home loan from SBI is pegged at 0.20 percentage points to 0.80 percentage points over and above the MCLR (marginal cost of fundbased lending rate) at 9.15 per cent, which is the PLR for a retail loan. That means, rates for compensation would be 11.2 per cent as against the home loan rate of 9.35 per cent to 9.95 per cent. Any violation such as delay in offering possession, increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70 per cent of the allottees can lead to cancellation of registration. In such a situation, the authority can take any decision, including getting the project completed by an external agency with the consent of the buyers' association. Please click here to read more. |