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CREDAI Submits its Report on Real Estate Regulation Bill
| November 6, 2009 |  (Be the first to rate this story!) Loading ... |
The Confederation of Real Estate Developers’ Associations of India (CREDAI) has submitted its views on the proposed Model Real Estate (Regulation of Development) Act to the government. According to CREDAI, the current Draft Bill seems to penalise the developer but does not provide any real relief to the end user. It will finally result in cost escalation for developers to end users.
They feel that while the proposed bill is well-intended , several clauses in the bill would prove counter productive. CREDAI suggests that instead of licensing for each project, there can be a registration process for each of the builders and the Regulatory Authority can come up with certain guidelines which the builders should adhere to.
News Published Under: Real Estate Developers |
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