Real Estate (Regulation and Development) Bill: A Case for a Nuanced Approach to Salvage the Sector

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In an effort to provide a uniform regulatory framework and to address the concerns plaguing the real estate sector, the government had in 2007 proposed the Real Estate (Regulation and Development) Bill. The first draft of the Bill was issued in September 2009 followed by a revised bill in 2011 which aimed at curbing malpractices by notorious developers in the real estate sector. Despite constant demands by the stakeholders, the Bill still awaits to see the light of the day. The government now proposes to table the Bill in the upcoming monsoon session of the Parliament.

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