Real Estate Bill passed in Rajya Sabha

Allays industry fears, says regulation not strangulation

GN Bureau | March 10, 2016


#NCR home buyers   #Rajya Sabha   #Real Estate Bill  


The Rajya Sabha has passed the Real Estate Bill (2016) which seeks to protect buyers from builders who fail to deliver projects on time.
According to union urban development minister M Venkaiah Naidu, the bill will promote timely execution of projects thereby achieving the objective of ‘housing for all’. In his twitter account, the minister listed the benefits of the bill which includes speedy resolution of disputes and orderly execution of real estate projects. The bill majorly plans to address consumer fears and tackle illegal development. The draft bill is applicable to all residential and commercial projects above 500 square meters and more than eight apartments.

The minister also allayed industry fears.


He said that the bill seeks to weed out fly-by-night operators, channelise funds into the sector and build credibility for the Indian real estate sector.


Earlier, amendments to the Real Estate Regulation Bill (2013) were approved by the union cabinet. The amendments can be seen here


 

 

 

Comments

 

Other News

Uday Kotak on history, Indian economy, growth and more

Pathbreakers: How 10 Visionary Leaders Transformed India by award-winning journalists  By Sucheta Dalal and Debashis Basu Rupa Publications, 304 pages, Rs 695  

₹5,000 crore saved from suspected financial fraud

In a significant gain for citizen protection in the digital economy, the Department of Telecommunications (DoT) has helped prevent suspected cyber fraud losses of more than ₹5,000 crore through its Financial Fraud Risk Indicator (FRI) within fifteen months of its launch on May 22, 2025. This money did

Capital acquisition proposals worth Rs 1.10 lakh crore for defence forces cleared

The Defence Acquisition Council (DAC), under the chairmanship of Raksha Mantri Rajnath Singh, on Monday accorded Acceptance of Necessity (AoN), that is, in-principle administrative approval to various acquisition proposals of the defence forces at an estimated cost of about Rs 1,10,000 crore.

How Rafi, Raj Kapoor helped pave the way for a great uranium deal

There`s a certain moment in diplomacy that`s too personal to be captured in a communiqué, too small to make the front page, but more revealing than the front page. This week, prime minister Narendra Modi reached Tashkent and, amid the pomp of state visits, managed to evoke the old Bollywood tunes

Distinguishing Fish 1 and Fish 2: The pragmatism behind India’s WTO ratification

 India became the 123rd WTO member to ratify the multilateral Agreement on Fisheries subsidies (AoFS) when it deposited the Instrument of Acceptance for Phase 1 on July 20, 2026. The ratification is restricted to disciplining Illegal, Unreported and Unregulated fishing (IUU), protection for overfished

The 7% growth problem: Why the next 7% will be harder

India has become accustomed to hearing the 7% growth number. It is now less a milestone than an expectation. Yet the paradox is becoming clearer: maintaining 7% growth may be considerably harder than achieving it once. India’s real GDP grew 7.7% in FY2025–26, following growth of 6.5% in FY202

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter