Tag Archives: real estate regulator

Real estate regulator likely to become a reality

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Housing ministry plans to introduce real estate regulator in the Cabinet. The regulator is expected to curb the illegalities in the realty sector.
Maken to seek cabinet - approval of real estate regulator bill.

Maken to seek cabinet – approval of real estate regulator bill.

Realty sector may get a cleansing if the union government sets real estate regulator to control the sector. The regulator is believed to be stiff towards unscrupulous builders.

Under the real estate regulatory bill the builders will be put into jail in circumstances of proved misbehavior. They will not be allowed to put any advertisement about their projects before they get the approval from the regulator.

Despite the opposition of the realty developers, the housing ministry is all set to implement real estate regulator bill to safeguard home buyers from unscrupulous builders. The bill is expected to be passed in the current parliament session. Continue reading →

Realty regulator is needed

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HDFC chairman Mr. Deepak Parekh said that there is need of real estate regulator at state level to deal with issues concerning the housing sector. He pointed out that the Government should layout an institutional framework for a real estate regulator. Regulators’ role would be to regulate the affordable housing agenda, promote real estate reforms and ensure transparency especially by mandating that flats be sold only on carpet area and act as a platform to protect buyers from real estate deceit. Mr. Parekh suggested that affordable housing has to be enable to cut all income segments and has to make economic sense in terms of distance from work place.

Realty regulator is needed

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Government should layout an institutional framework for a real estate regulator. Regulators’ role would be to regulate the affordable housing agenda, promote real estate reforms and ensure transparency especially by mandating that flats be sold only on carpet area and act as a platform to protect buyers from real estate deceit. Mr. Parekh suggested that affordable housing has to be enable to cut all income segments and has to make economic sense in terms of distance from work place.