Real Estate Regulator Law Coming Soon

[yomkippur]

Friends rejoice on this soon supposed to be reality - well hopefully.

Union minister for housing and urban poverty alleviation Kumari Selja has said that the Centre is expected to bring the real estate regulator bill in the winter session. "We have received the law ministry's view on this legislation. Respective state governments can then frame their own regulatory bill to improve governance and transparency in the real estate sector," said Selja, while inaugurating the 8th international realty summit organized by the Federation of Chamber of Commerce and Industry (on 23 Dep 2011).

The realty sector's image has suffered a huge dent due to recent housing loan scam, judgments by the Competition Commission of India and issues relating to land acquisition for real estate projects across the country, Selja said.

[s1joshi]

Hopefully we will have a chance to air our views on the bill and the regulatory body will a reality soon,