Real Estate Regulation Bill Passed In Rajya Sabha

Venkaiah Naidu, Parliamentary Affairs Minister

The real estate bill has been passed on Thursday in upper house of parliament. The arbitrary acts of builders will be prevented and to regulate the real estate sectors will be helpful. These are the 10 chief references of this bill.

- Builders have to give flat in scheduled time

- Property Agents must have to register in Real Estate Regulatory Authority

- All states will form regulatory authority.

- Grievances of buyers will be heard and redressed quick.

- Single window system will clear earliest housing projects

- Not only housing but also commercial properties will be exercised in this rule.

- There will be got rid of fraud

- There will be transparency in the system.

- There must be 2/3 buyers’ acceptance in change of plan.