Government to introduce realty sector regulatory bill
President Prativa Patil declare that the government will propose for a bill to regulate the realty sector.
The main aim of this bill will be to make the builders bound to comply public disclosure. The bill should introduce clarity and protect the realty customers right.
The bill also says that builders should invest funds for the projects only owned by them. Also the buyers asked to make timely payments for timely execution of the projects.
According to this bill, promoters must construct apartments according to the approved plans and projected specification. Failing which builders have to provide refund to customers if claimed.
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Bills to protect consumers, Mumbai property market, Real Estate Regulatory Authority Bill, Realty regulation bill, Regulatory Bill, TDR real estate
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