The Real Estate (Regulation and Development) Bill 2011 (“Bill”) has received clearance from the union cabinet. The Bill has been designed to regulate and ensure the planned development of the real estate sector and improve the efficiency and transparency in real estate and housing transactions. At present the real estate sector is unregulated and it is difficult for customers to procure complete information or enforce accountability against developers in absence of any regulation. This article briefly discusses the salient features of the Bill and its potential impact on the real estate sector.
Union-Cabinet-clears-the-Real-Estate-Regulation-and-Development-Bill-2011-June-2013
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