New Delhi, Vol-X, Dec, 2011

  Article

IMPACT OF REALTY REGULATION BILL
India is one of the fastest growing countries in the world and real estate is one of the booming sectors in the country. However, unfortunately the real estate and housing sector in India is largely unregulated and obscure, with consumers often unable to procure complete information, or enforce accountability against builders and developers in the absence of effective regulation. The sector, in recent years, has also emerged as a source of black money and corruptions in the economy.

The Draft Real Estate (Regulation & Development) Bill, 2011 seeks to establish a regulatory framework for real estate sector in India to enforce disclosure, fair practice and accountability norms in the sector, and to provide adjudication machinery for speedy dispute redressal.

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