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- The Union Cabinet recently gave its approval to the Real Estate (Regulation and Development) Bill, 2015.
- The Bill aims to protect the interest of consumers, promote fair play in real estate transactions and ensure timely execution of projects.
- It regulates both commercial and residential real estate projects.
- It seeks to set up Real Estate Regulatory Authority in states and union territories to oversee real estate transactions.
- It makes registration of real estate projects and real estate agents with the authority mandatory.