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Real Estate (Regulation and Development) Bill, 2015 - (09 Dec 2015)



The Union Cabinet has approved amendments to the Real Estate (Regulation and Development) Bill, 2015 made by the Select Committee of Rajya Sabha. The changes focus on shorter timeframes for making regulations, quicker adjudication on disputes pertaining to issuance of occupancy certificates, amongst other consumer friendly measures. An earlier Bill, 2013 sought to bring uniformity and standardization in business practices and transactions in the real estate sector and established a Real Estate Regulatory Authority to monitor and administer real estate law. The same was referred to the Standing Committee by the Rajya Sabha for further examination.


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