Real Estate Industry

Real Estate Regulatory Authority on anvil

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

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