Rajya Sabha Passes the Real Estate Bill
The Bill aims to protect buyers’ interests from unscrupulous promoters and regulate the real estate sector.
The Real Estate Bill, proposing a Real Estate Regulatory Authority, was on Thursday, approved by the upper house of parliament. The Rajya Sabha approved the Bill after the government accepted as many as 20 amendments, as proposed by a Rajya Sabha Select Committee.
The Bill, pending before parliament since 2013, aims to protect the interests of property buyers from unscrupulous promoters and regulate the real estate sector.
The legislative measure will now go to the Lok Sabha for its approval.
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