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 / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices