Real estate transactions are one of the most controlled in the country. There are various laws governing the real estate transactions. Some of those laws that govern real estate transactions are as follows
- The Indian Contract Act, 1872.
- The Transfer of Property Act, 1882.
- The Indian Registration Act, 1908.
- The Specific Relief Act, 1963.
- The Urban Land (Ceiling & regularization) Act, 1976.
- The Land Acquisition Act, 1894.
- The Indian Evidence Act, 1872.
- The Indian Stamps Act, 1899.
- The Rent Control Act.
Besides these Central Laws, different states have their own laws that govern real estate transactions in their respective states. The State Laws governing the real estate.
- The Consumer Protection Act, 1986
- The Arbitration & Conciliation Act, 1996
- Income Tax Act, 1961.
- The Wealth Tax Act, 1957
- The Co-operative Societies Act, 1912
- The Multi-state Co-operative Societies Act, 2002
The Laws applicable to Real Estate Business can be divided in five groups:
- Land Related Laws
- Environment Laws
- Construction Laws
- Registration Laws
- Labour Laws
For e.g. if we take the Capital Region of Delhi, the following laws are applicable to real estate transactions in Delhi.
