The real estate bill is being revised in order to make it a central legislation bill. The focus of the bill has now been shifted towards the contractual obhttp://www.blogger.com/img/blank.gifligations of the developers and consumer protection. The ministry of law has given their approval to the ministry of housing and urban poverty alleviations on this legislation. It is expected that the law ministry will give its opinion on this issues by the end of the month. It’s been almost 10 year since the concept of real estate bill has been introduced to the government and almost 2 years have been passed in the making of the draft bill.
In order to make the real estate draft bill a central legislation bill certain clauses have been deleted from the initial proposed draft bill. According to an official confirmation state-centric issue like municipalities and building bye laws is not a part of new draft bill. The aim behind this legislation bill is to set a regulating body which would keep a check on sale and purchase of real estate property. The actual bill was drafted by the government as notified by managing director and country head. The government has established consumer act for real estate.
In order to make the real estate draft bill a central legislation bill certain clauses have been deleted from the initial proposed draft bill. According to an official confirmation state-centric issue like municipalities and building bye laws is not a part of new draft bill. The aim behind this legislation bill is to set a regulating body which would keep a check on sale and purchase of real estate property. The actual bill was drafted by the government as notified by managing director and country head. The government has established consumer act for real estate.
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