The cabinet approval of the long pending Real Estate Regulatory Bill is a positive first step towards bringing in the much needed transparency to the sector and reducing the risks associated with buying a property. The Bill will bring about a common regulatory platform for all stakeholders in the industry thereby ushering in a higher degree of accountability amongst builders and sales intermediaries.
The Bill in its current form applies to both residential and commercial real estate, and is far more comprehensive and holistic in approach, addressing both the regulatory and development oriented aspects that the industry needs.
See more at: http://goo.gl/WCqYbl
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