Are you a buyer and concerned how will it impact you? Will it reduce prices of residential real estate? Will the prices remain high? Are you a developer and are concerned about inputs and material costs? Here is how the new tax will impact you and the real estate sector.

Having put in place an interim authority much ahead of the central act, the Haryana government will notify the Haryana Real Estate Regulation Authority (HRERA) Act 2016 by July 15. The Union government had notified that the Real Estate Regulation Authority (RERA) Act should be in force from June 1.

The act assumes importance in Haryana since it has a history of land scams involving influential persons and politicians. Amidst allegations of residents’ associations that Haryana government had diluted some issues vis-a-vis interests of existing buyers in favour of builders, the state government invited objections on the draft rules after RERA was passed in the assembly last year.

New Delhi, May 10 (PTI) Real estate developer Elan Group said it has gifted a luxury serviced apartment to cricketer Mahendra Singh Dhoni in its project in Gurugram. "His unparallelled service and contribution towards Indian cricket is commendable. May he keep on inspiring the young generation for years to come," said Rakesh Kapoor, chairman of Elan Group.