Realty Regulator in Delhi

Bamboo scaffolding in Hong Kong
May 08, 2010

On Thursday Mr. S. Jaipal Reddy, the Urban Development Minister told that by the end of this year, Delhi realty will go under regulation.

Govt. is discussing with other states too for the similar regulators, he added.

Reddy said that “The state governments have sounded positive. It would take time to happen. But Delhi will get a regulatory authority for the real estate by this year”.

He said that since the draft bill has been circulated to the stakeholders, the legislative procedure for the real estate regulator for Delhi would soon come to an end.

The motive behind this regulation is that it would hold back realtors from indulging in unnecessary profiteering, according to him.