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National: Rajiv Awas Yogana, part of Real Estate Regulation Bill

The Real Estate Regulation Bill 2012, pending since 2009 is likely to be discussed in the Winter session of the parliament. This was confirmed by Ajay Maken, Union Housing and Urban Poverty Alleviation Minister, at the inauguration of the 14th World Innovation Summit & Expo on Power & Construction in Mumbai.

Besides a regulatory body for real estate in every state, the Minister mentioned that policy decisions will be made which will require private developers to reserve 35% houses or 15% floor area ratio, whichever is higher for economically weaker sections of society under the Rajiv Awas Yogana. As per this Yogana, bank loans will also be available for EWS without any collaterals. All states would have to comply by such norms.

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