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 Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.