Mar 15 2016 | Realty Zone

Kamal Khetan, CMD, Sunteck Realty Ltd

The passing of Real Estate (Regulation and Development) Bill is in favour of both, consumers as well as developers. The provisions like setting up Real Estate Regulatory Authority (RERA) will make real estate sector more Institutionalized and will benefit the organized players thus bringing in more transparency and maturity in the industry. Also, provisions like single window clearances and subsidizing of housing loans will bring in a renewed hope for the sector. We expect the bill to help attract foreign investments which in line will provide the necessary fillip in the sector. While enactment of the law is the first step, we hope that government also brings in reforms in the administrative process.