Real Estate bill to be tabled in next session: Naidu

Real Estate, Top News

Gurgaon, Oct 9 (IANS) The Real Estate (Regulation and Development) bill will be tabled in the coming session of parliament, Union Urban Development Minister M. Venkaiah Naidu said Thursday while addressing the media here.

The bill aims to regulate transactions between buyers and promoters of residential real estate projects.
It proposes to set up state-level regulatory authorities called Real Estate Regulatory Authority (RERA).
Naidu said the NDA government will get the bill passed in the Lok Sabha but will face a problem in the Rajya Sabha where it lacks numbers.
“Congress has been creating hurdles in the way of bills aimed at wider public interest. The FDI and insurance bills were not passed in the Rajya Sabha. Now these bills are with the standing committee and it takes a long time to clear these,” Naidu said.

Last modified: October 9, 2014