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ARTICLE · 13 AUGUST 2013

The Real Estate (Regulation And Development) Bill, 2013

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After much delay and deliberation The Real Estate Regulation and Development Bill, 2013 has been approved by the Union Cabinet on June 4, 2013.

IndiaReal Estate and Construction
Sharad Sharma
Sharad Sharma
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After much delay and deliberation The Real Estate Regulation and Development Bill, 2013 ["Bill"] has been approved by the Union Cabinet on June 4, 2013, though this bill is yet to be approved by Parliament i:e lok sabha or the lower house of the parliament and the Rajya Sabha or the upper house of the parliament The bill will be notified as a statute once it receives the assent of the President of India for its implementation across all States and Union Territories in the country.

The passing of this Bill is best stated as a delayed step of the Indian government towards regulation of real estate sector. This Bill aimed to create a Real Estate Regulatory Authority and an Appellate Tribunal that will act as a watchdog for the housing sector, primarily towards protecting consumer interests while creating an alternative redress mechanism for any disputes that may arise.

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