The government is considering the establishment of a real-estate regulator to address the complaints of consumers and builders. | |
| Such a regulator might first be set up in the national capital, New Delhi, in six months, Jaipal Reddy, urban development minister, said at a conference in Mumbai on Thursday. |
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| "We plan to set up a quasi-judicial regulator in big cities,'' Reddy said. It will be based on "a model legislation that may be emulated by other states''. |
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| The government's move comes as property buyers have been complaining of fraud and other issues, amid a real-estate boom in the world's fastest-growing major economy after China. |
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| India's real estate sector is forecast to grow almost eight-fold to $90 billion by 2015 from $12 billion in 2005, Moody's Investors Service had said. |
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