Minister for Physical Planning and Works Bijay Kumar Gachchhadhar Thursday said that the government will soon promulgate a new Act to regulate land and housing transactions and facilitate the organized development of the real estate sector. The Act has already been registered in the parliament. We will ratify it in this bill session of the parliament,” said Gachchhadhar. Addressing builders and real estate dealers at the Real Estate Expo - 2009, which kicked off on Thursday, Minister Gachchhadhar also expressed hope that the enactment of the law governing the real estate sector in particular would facilitate the growth of the sector. “The law will protect the interest of developers, dealers and consumers, and create an environment where investors and the market can operate fairly and reliably,” said Gachchhadhar. While lauding the contribution made by the housing companies for the planned residential development, he also asked them to improve their public image and raise their credibility in the market.
Source: Click to find more details in Republica