Lok Sabha passed Real Estate (Regulation and Development) Bill, 2015

Posted on:16 Mar 2016 09:26:58
Lok Sabha passed Real Estate (Regulation and Development) Bill, 2015
16 March 2016 Current Affairs: Lok Sabha on 15 March 2016 passed the Real Estate (Regulation and Development) Bill, 2015. The Bill seeks set up a Real Estate Regulatory Authority (RERA) for the orderly growth of the real state sector.The bill aims at protecting the interests of the large number of aspiring house buyers and enhances the credibility of construction industry.Earlier, it was passed by the Rajya Sabha on 10 March 2016.The bill seeks to create a set of rights and obligations for both the consumers and developers.The mandatory registration for projects has been brought down to 500 sq m area, or those comprising eight flats. It also provides for a clear definition of carpet area and a system that would require the consent of two-thirds of the buyers in case there are changes in project plans.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs February 2018

17 FEBRUARY
NEWS
16 FEBRUARY
NEWS
15 FEBRUARY
NEWS

Current Affairs January 2018

31 JANUARY
NEWS
30 JANUARY
NEWS
29 JANUARY
NEWS
28 JANUARY
NEWS

Current Affairs December 2017

31 DECEMBER
NEWS
30 DECEMBER
NEWS
29 DECEMBER
NEWS
28 DECEMBER
NEWS