Bill in Rajya Sabha to regulate real estate introduced
Aug 16, 2013
Source : The Economic Times

 

DELHI: The real estate regulation and development bill that seeks to protect home buyers from dishonest builders was tabled in the Rajya Sabha on Wednesday by minister of housing and urban poverty alleviation Girija Vyas.

Soon after its introduction, the bill was referred to the Parliamentary Standing Committee on urban development for review and suggestions.

The cabinet had approved the bill on June 4. The bill has provisions like a jail term of up to three years if developers put up misleading advertisements about projects.

 

 

 

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