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Both houses of Parliament pass real estate bill

| | Mar 15, 2016, at 11:41 pm
#Real Estate Bill # parliament # home buyers
New Delhi, Mar 15 (IBNS) The Real Estate Bill, which is aimed at safeguarding the interests of the buyers from promoters who do not deliver on time, was passed on Tuesday by Parliament.

The  Real Estate (Regulation and Development) Bill, 2015, which aims to infuse transparency and curb the flow of unaccounted money into the sector, was passed by Rajya Sabha last Thursday and now by the Lok Sabha too.

 
Now it will be a law after the approval of the President. 
 
Congress, which had introduced the bill in 2013 when it was in power, also supported the Real Estate (Regulation and Development) Bill  in Parliament.
 
The Union Budget presented by finance minister Arun Jaitley on Feb 29 offered some good news for home buyers and the real estate sector—viz. incentives for first-time home buyers, making affordable housing more viable and removing dividend distribution tax (DDT) on real estate investment trusts (REITs).
   

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