Real transparency: Real estate bill will empower consumer

by Paul Joseph on June 8, 2013 · 0 comments

Five years or so in the making, the Real Estate Regulation and Development ( RERD) Bill has finally been cleared by the Cabinet. Developers had originally resisted the move to be brought into a regulatory framework, arguing that there were already too many municipal and planning regulations that were applicable to them. So, the genesis of the bill needs to be recalled to put things in perspective. The Bill is essentially a consumer law. The main difference between the existing consumer laws and this one is that movable consumer items are invariably manufactured before the consumer pays for the item while that is not true for immovable goods like property

[via India Properties - Real Estate India - Indian Property News Site]

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