RE4005 Contract Law and Regulation Syllabus:
RE4005 Contract Law and Regulation Syllabus – Anna University PG Syllabus Regulation 2021
OBJECTIVE
To gain knowledge on the elements & types of contract documents requirements involved in Real Estate Development
To understand the process of inviting bidding & evaluation of tenders.
To examine RERA, exploring rights and obligations of the stake holders
To understand statutory and legal requirements with reference to land & property
To sensitize students to labour related legislation & welfare measures.
UNIT I CONTRACTS
Purpose of the contract – evolution of contract law in India – Indian Contracts Act – Construction Contracts – Elements of Contracts – Types of Contracts – Features – Suitability – Design of Contract Documents- International Contract document – Standard Contract Document –- negotiating contracts – win-win outcome – Law of Torts-termination of contracts – conditions of contracts
UNIT II TENDERS
Tenders – method of inviting tenders – tenders notice – tender documents – 3 bid/2 bid or single bid system – qualitative and quantitative evaluation of tenders- acceptance/rejection of tenders-various forms of BOT and global tendering-E Tendering
UNIT III RERA
Real Estate (Regulation and Development) Act- registration of real estate project -Projects exempted from the ambit of the Act-Application for Registration of real estate projects -functions and duties of promoter -rights and duties of allottees—penalty and fines – disputes – resolution of disputes – case based examples
UNIT IV TAXATION LAWS
Legal Requirements – Insurance and Bonding – Laws governing sale- Purchases and use of Urban and Rural land – Land revenue codes- Tax Laws – Income tax – Sales tax – Excise and customs duties and their influence on construction costs – Legal Requirements of Planning – Property Law – Agency Law – Local Government laws for Approval – Statutory Regulations
UNIT V LABOUR LAWS & REGULATIONS
Labour Regulations – Social Security – Welfare Legislation – Laws relating to wages – Bonus and Industrial disputes – Labour Administration – Insurance and safety Regulations – Workmen’s Compensation Act – Other Labour Laws – migrant workers – issues – act and wages.
TOTAL: 45 PERIODS
OUTCOMES
CO1 Students will understand the salient features and modalities of a contract document
CO2 Students will gain knowledge on the process involved in preparation of a tender document
CO3 Students are exposed to nuances of operating mechanism & the spectrum of RERA
CO4 Student will be equipped with an understanding of taxation, legal framework & revenue codes.
CO5 Students will be responsive to labour related issues socially and legally
REFERENCES
1. Barlow Burke, “Law of R.E brokers”, 1992, Aspen Publications.
2. James Karp, RE law, 2003, Dearborn Real estate education.
3. Catherine Ellioth, Contract Law (2003) Longmen Publications.
4. Richard Willmot Constructions Contracts – Law & Practice (2006), Oxford University Press, U.S.A.
5. Daniel F Hinkel, “Practical R Elano”, 2003, Thomas Delimar Learning.