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India: Real estate draft bill revised to make it a central legislation

Posted on 11 May 2011

The contour of the Real Estate Draft Bill has been changed to make it a central legislation, a shift from it being a state matter earlier. With the focus of the revised Bill now on consumer protection and contractual obligations of developers, the Ministry of Housing and Urban Poverty Alleviation has sought the approval of the Ministry of Law on the proposed legislation, it is learnt.
The law ministry is expected to give its opinion by the end of this month. The concept of a real estate Bill has been around in the government for almost 10 years now, and a draft Bill has been in the making for well over two years……………………………………….Full Article: Source


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