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India: Real estate regulatory bill continues to hang in fire

Posted on 24 November 2010

From Intoday.in: The government seems to be in no hurry to regularise the country’s real estate sector. The ministry of urban development, which had drafted the Model Real Estate Management (Regulation and Control) Bill way back in 2007 to rein in errant builders and real estate agents, is still to be made law.
According to the income tax (I-T) department, of all the unaccounted money found during various tax investigations, about 50 per cent has come from the realty sector alone. Real estate companies are also breaking law repeatedly……………………………………….Full Article: Source

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