abhi

Good News:

The much-awaited real estate regulatory bill, which seeks to protect home-buyers from fly-by-night developers, will be passed this year, urban development minister Jaipal Reddy said.

"The bill will be passed in 2010 and there will be a regulatory authority in Delhi," Reddy said when asked about the status of real estate regulatory bill. He was speaking on the sidelines of a realty conference organised by Assocham.

The proposed bill is meant for Delhi and will be a model for other states to follow, he had said earlier.

Reddy said the comments from different ministries on the bill is being sought. "The regulator will see that buyer is not cheated and fly-by-night operator do not flourish in the market to the frustration and discomfiture of consumer," Reddy said, adding the regulator would have no role in determining the prices.

Austin_cooool

By when this bill is expected to be in place...Shall I hold my investment till then....Any suggestions?

rimple2010

Thanks for this news: This was very much required.
My question is whether this bill have jurisdiction in Delhi area only or properties devloped in Noida, Gurgaon etc will also come under its purview?

nifty001

If it is just for delhi its useless...

How many people are investing in delhi if govt want s the ncr / other cities surrounding a reas do be magnet and take of load from main cities..

Thus this should be applicable whole of india where it is required...

I doubt it will pass this year anyways...