Land purchasers can lift a groan of break as the Govt. is planning to develop a 10 member committee to give a last form to a bill for regulating the realty segment. The Govt. is been playing with the plan of regulating the realty segment to give some break to clients till now at the compassion of developers and realty agents. As said in the notice issued by the Govt., the ministry of residential and urban poverty alleviation has planned to develop a committee to talk about different supplies of the bill to jerk it to meet the requirements of the present market tendencies.
President of Maharashtra Chamber of Housing Industry (MCHI) said to www.propertykhazana.com that, “It is an optimistic development, but still the committee has to comprise the aspects and recommendations of all the people who are linked to the realty industry, especially MCHI as Mumbai is the main realty market in India.”
According to the ministry notice, committee contains of 10 members from different boards and departments from both the central and state governments.
As per to the sources saying @ the www.propertykhazana.com, committee will arrange a model bill to regulate the realty, discuss with such other experts and departments as it will be essential and will give a last form to the model bill for regulating the realty segment and recommends other measures as considered essential by the committee. It was usually estimated that the regulator will start consigning the complaints of both builders and purchasers.
Mumbai based property consultant said to www.propertykhazana.com that, “Realty rates is bombarding to record highs and the quality of construction falling harshly, we hoped that a regulator will entry to keep a check on the players.” For more updates on realty markets browse www.propertykhazana.com.
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