Lok Sabha passes Real Estate Regulation and Development Bill

With the Lok Sabha the long pending legislation for housing sector Real Estate Regulation and Development Bill is all set to become law. Rajya Sabha last week had passed the Bill. The Bill will go to the President before it enters the statute books.

Reacting to the passage of the Bill in the lower house, Union Minister for Urban Development Venkaiah Naidu tweeted in a series:

The Bill is expected to bring the real estate sector into strong regulatory framework by setting up a real estate regulator. This would be beneficial for both developers and homebuyers along with providing a push to the stagnant real estate sector by boosting investor confidence

Wefornews Bureau

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