The es­crow ques­tion

HT Estates - - HTESTATES -

50% or such lesser per­cent­age as de­cided by the ap­pro­pri­ate gov­ern­ment. When this bill was tabled in the Ra­jya Sabha, the op­po­si­tion raised ob­jec­tions against the changes and the bill was sent to a se­lect com­mit­tee for fur­ther con­sul­ta­tion. The se­lect com­mit­tee then changed it to 50% or such higher per­cent­age. Now the news re­ports of 70% are quite star­tling,” says Amit Jain, a key con­trib­u­tor in the draft­ing of the real es­tate reg­u­la­tion bill.

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