Sources said that the Real Estate (Regulation and Development) Bill 2011, prepared by the Housing and Poverty Alleviation Ministry, intends to promote planned development of real estate and protection of public interest among others.
According to the draft, developers will need to make public disclosures related to land title, project completion date and other relevant scheme details on the website of the proposed regulatory authority. The promoters will also have to register themselves with the regulatory authority.
