Real Estate Bill

Besides this special window, interest rate on housing building advance is proposed to be lowered and linked to the 10-year G-sec yields

Laws in several states are inconsistent with the model Bill passed by Parliament

The author looks at some key legal and regulatory challenges facing the proposed real estate regulator

The bill would face no hurdle in the lower house in view of majority of the ruling NDA.

Nevertheless, there are quite a few companies, which follow good business practices and enjoy strong brand equity and, hence, will be key beneficiaries

The bill could go a long way towards protecting the interests of home buyers

Home buyers can now take their errant builders to task through state level regulatory authority

Government accepts several suggestions by Opposition to win votes in the Upper House

The law will protect home buyers against erring developers

Urban Development Minister Venkiah Naidu stressed that the law would be a 'regulation and not strangulation'

The move comes days after Rahul Gandhi assured home buyers that Congress was committed to strong real estate bill