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Gurgaon: TCP posts amended real estate bill

A tentative draft of The Haryana Real Estate (Regulation and Development Bill) 2013 has been posted on the website of the Development of Town and Country Planning– Haryana: http://tcpharyana.gov.in. Although media reports have mentioned that suggestions are invited, no deadline has been specified and it is uncertain, whether any suggestions will be incorporated in the same.

 

The proposed bill has been drafted in a manner to ensure transparency and accountability with respect to marketing techniques of real estate projects as well as real estate transactions. This bill will mandate the registration of real estate projects as well as real estate agents. Not only developers will be held accountable by the authority but so will real estate agents.

 

Favista’s view: There are some ambiguities contained in the tentative draft of the proposed bill. There is a need to revise the drafts. An update about the same will follow as an when there is any new information to communicate regarding the same.

 

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