The long pending Real Estate Bill after several amendments was finally passed by Rajya Sabha today.The bill aims to protect the interests of buyers and bring more transparency to the sector. The bill is designed to protect consumer interest, ensure efficiency, improve accountability of developers, boost transparency and attract investments to the sector.
Experts opined that the bill will bring in much-needed transparency and accountability in the real estate sector and protests the consumer rights. The bill will ensure about timely delivery of projects.
Union Minister for Urban Development Venkaiah Naidu took to Twitter to express his happiness. Niadu opined that it was a historic day in housing secotr and said "this is only a regulation and not a strangulation".
"Historic day for housing sector.PM's guidance & support of Parliamentarians today fulfilled long pending dream of home buyers .This is only a regulation not a strangulation. #RERABillToday #RERABill"
- M Venkaiah Naidu (@MVenkaiahNaidu) March 10, 2016
With the approval of the bill Realty stocks higher in anticipation. Venkaiah Naidu has made efforts to get the bill listed for approval in the past as well but he didn't succeeded.
Experts opined that the bill will bring in much-needed transparency and accountability in the real estate sector and protests the consumer rights. The bill will ensure about timely delivery of projects.
Union Minister for Urban Development Venkaiah Naidu took to Twitter to express his happiness. Niadu opined that it was a historic day in housing secotr and said "this is only a regulation and not a strangulation".
"Historic day for housing sector.PM's guidance & support of Parliamentarians today fulfilled long pending dream of home buyers .This is only a regulation not a strangulation. #RERABillToday #RERABill"
- M Venkaiah Naidu (@MVenkaiahNaidu) March 10, 2016
With the approval of the bill Realty stocks higher in anticipation. Venkaiah Naidu has made efforts to get the bill listed for approval in the past as well but he didn't succeeded.