The new Union bill enhances transparency in Greater Noida's real estate, empowering homebuyers while addressing builders' concerns amidst rising demand for affordable housing.
The housing ministry intends to introduce a real estate regulator to curb sector illegalities. The bill, aimed at safeguarding buyers, defines carpet area and mandates project registration.
The real estate bill is expected to pass in the upcoming parliament session, protecting buyers from unethical builders.
Developers express mixed views on the real estate regulatory bill, citing concerns about one-sided punishment and the need for a more balanced approach.
CREDAI urges Parliament for consumer-friendly real estate reforms, citing stalled projects and the need for "Home for All." They criticize the one-sided regulatory bill and suggest a single-window clearance system.
CREDAI criticizes MHUPA's new Real Estate Bill, fearing increased corruption and negative impact on affordable housing and the real estate sector.