Real estate regulatory bill still waiting to be tabled
According to an official of The Ministry of Housing and Urban Poverty Alleviation, the Real Estate Regulation Bill will not be tabled during the current session of Parliament.
The bill is a long time demand by the builders in India. Once the bill gets regulated, Indian Real Estate industry will become more transparent.
According to the draft bill, registration of every property more than 1000 sq ft is mandatory. In case the projects are found unregistered with the real estate regulation authority, they may lead to the imprisonment for up to 3 years.
The builders associations across India are waiting for the bill to be passed in the Parliament.
More related stories:
Lacunae in Maharashtra real estate Regulatory Bill
Government finally thinking of Real estate Regulatory Bill
Source: Business Standard
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[...] Real estate regulatory bill still waiting to be tabled [...]
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