Regulator for Real Estate approved
Regulator for Real Estate approved has been approved by the Union Cabinet. It cleared a legislation to set up a long-pending real estate regulator aiming to protect home buyers from developers and builders who mislead the prospective clients.
A real estate regulator — to be set up in every state — will ensure that private developers get all their projects registered with it before sale and only after obtaining all necessary clearances.
"It will be mandatory for developers under the law to get every project registered with the regulator before selling any immovable property,"
A long over due legislation aims to mitigate the hardships faced by home buyers.
