Real Estate bill to bring in transparency
The Real Estate (Regulation and Development) Act, 2016 will bring a much needed regulation and transparency into the burgeoning sector, said M Venkaiah Naidu, Union urban development minister.
Inaugurating the fifth annual conference of Confederation of Real Estate Developers Associations of India (Credai), Naidu said the Act will create a set of rights and obligations for both the consumers and developers. “It will encourage both of them to live up to the expectations of each other as per the agreement by both of them. Genuine developers needn’t worry about the new policy as it will only affect fake developers,” he said.