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Cabinet to take up real estate regulatory Bill on Wednesday

Union Cabinet

The Union Cabinet is set to take up the Real Estate (Development and Regulation) Bill at its meeting scheduled for Wednesday. According to sources, the Bill is listed among the agenda for Wednesday’s meeting.

The Bill is aimed at providing regulation in the sector besides protecting buyers from erring developers and usher in an era of transparency. It seeks establishment of state-level regulatory authorities called the Real Estate Regulatory Authorities (RERAs).

After getting the Cabinet nod, the Bill is likely to be introduced in the ongoing session of Parliament.