Ajay Maken, the newly appointed Union minister for housing and urban poverty alleviation has reportedly said that there will soon be a regulatory body for the real estate sector to protect flat buyers from land sharks.
Maken stated that the regulatory bill, which would soon be introduced by the Centre, would keep fly-by-night operators from entering the residential housing sector, says report.
Ajay Maken reported that draft of the bill is already being prepared and Once the bill is introduced, rogue builders will be reined in.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.