Housing ministry plans to introduce real estate regulator in the Cabinet. The regulator is expected to curb the illegalities in the realty sector.
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