Home,but not yet dry

Abstract

Real estate bill is carefully drafted. But implementation will be challenging

The approval of the Real Estate (Regulation and Development) Bill,2013 (RERD) by the Union cabinet is a laudable initiative by the government in ensuring planned development in the real estate sector. The bill is expected to usher in transparency,efficiency,professionalisation and standardisation,with an aim to protect consumer interest and promote fair play.

Real estate,including housing and construction,with inter-linkages with nearly 300 industries is an important sector of any economy and accounts for nearly 10 per cent of the GDP in India. The development of the real estate sector can have a significant and direct impact on employment generation and growth in the economy. The sector is labour-intensive,employing around 33 million people,which is expected to rise to 83 million by 2022. Read more at: https://indianexpress.com/article/opinion/columns/home-but-not-yet-dry/