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Urban Affairs Ministry to protect consumers' interest in real estate sector

The central government has amended the Government of India (Allocation of Business) Rules 1961, in this regard.

Press Trust of India  |  New Delhi 

Real estate
Real estate

The matters related to the administration of the for regulation of the sector and to protect the interest of consumers will be dealt by the and Urban Affairs Ministry, an official order said. The central government has amended the Government of India (Allocation of Business) Rules 1961, in this regard. The work of the (Regulation and Development) Act, 2016, which mandates the establishment of the Regulatory Authority (RERA), will be looked after by the Urban Affairs Ministry, the order issued by the Cabinet Secretariat said. The is for regulation and promotion of the sector and to ensure sale of plot, apartment or building in an efficient and transparent manner and to protect the interest of consumers in the sector. The law also has provisions for the establishment of an adjudicating mechanism for speedy dispute redressal related to the sector. The administration of the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014, will also be done by the same ministry. The Act is to protect the rights of urban street vendors and to regulate street vending activities. In another order, the development, operation and maintenance of the National Public Procurement Portal Government e-Marketplace has been brought under the commerce ministry. The government had last year launched an e-market platform for public procurement of goods and services. The online platform followed the Centre's decision to close the Directorate General of Supplies and Disposals (DGS&D), the procurement arm of the Centre.

First Published: Sun, December 17 2017. 10:37 IST
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