The Union Cabinet late Tuesday cleared the Real Estate (Regulation and Development) Bill. The Bill is aimed to protect buyers from scheming developers and usher transparency in the sector, unregulated until now.
Many in the sector have opposed the Bill in the current form since it contains stringent penalties and even a jail term for a maximum period of three years for developers convicted of malpractice.
Anant Raj Ind was down 2%, HDIL eased 1.3%, Parsvnath Developers slipped 1%, Prestige Estates fell 2.5%, Unitech was down 0.4% and DLF was trading flat.
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