Real Estate Bill (regulation and development) got passed in the house with Rajya Sabha and Lok Sabha giving green signals. This bill is under pending state from the last 2 years. It is known that the real estate prices are soaring high in India and there is no measures to control it.
If this is the case, only the rich can buy properties in India, in future. To avoid such a scenario, Real Estate Bill came into picture to regulate the prices. As per the information, there might be significant change in the raising prices of Real Estate properties. Politicians mentioned that they are ready to talk to the builder to make sure that they don’t face much loss.
Government is expecting that the real estate boom will raise further as people will start buying properties due to the price control. Urban Development Minister Venkaiah Naidu played vital role in this and he said that his team worked to highlight consumer’s interest.