Union Government notifies rules for Real Estate Act for five UTs

Posted on:02 Nov 2016 09:19:44
Union Government notifies rules for Real Estate Act for five UTs
02 November 2016 Current Affairs: The Union Government has notified the rules for Real Estate (Regulation and Development) (General) Rules, 2016 that seeks to regulate the housing sector besides bringing transparency and ensuring timely completion of projects in five Union Territories.

The rules notified by the Housing Ministry will be applicable to Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, and Lakshadweep.

Ministry of Urban Development will come out with such rules for the National Capital Region of Delhi while the other States and UTs will come out with their own rules.

The Act, which is touted as a major reform measure to regulate the vast real estate sector, requires registration of all projects with state-level Real Estate Regulatory Authorities to ensure protection of the interests of both buyers and builders.

The Real Estate (Regulation & Development) Act, 2016 was partly brought into effect on 1 May 2016.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs January 2018

22 JANUARY
NEWS
21 JANUARY
NEWS
20 JANUARY
NEWS
19 JANUARY
NEWS

Current Affairs December 2017

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

Current Affairs November 2017

30 NOVEMBER
NEWS
29 NOVEMBER
NEWS
28 NOVEMBER
NEWS
27 NOVEMBER
NEWS