Regulation Of Real Estate Projects

Though housing is one of the basic needs of habitants, yet the Parliament could not pass any legislation on this subject since independence, possibly because 'Land', which is essential for housing, is in the State List of the Constitution of India. In the absence of any legislation in this regard, the consumers are being exploited in the hands of unscrupulous builders. However, consumer grievances were/are being redressed under the erstwhile Monopolies and Restrictive Trade Practices Act, 1969, and the Consumer Protection Act, 1986 by including Real Estate/Housing constructions within the definition of 'Service' under the respective Central legislations. Taking a cue from the above, perhaps the Central Government has now exercised its powers under the Concurrent List of the Constitution of India dealing with 'contractual obligation and transfer of property', in order to enact a law on this subject.