By Accommodation Times (www.accommodationtimes.com)
As 52percent of Indian realty market has been captured by the investors, a high-rise from 2009 the time when investor section formed at that time buyers were only 22percent.
The biggest real estate agency Liases Foras said that “the large number of investor are rising property prices and making unaffordable for the homebuyers, however there is lesser sales.” According to the market analyst, “the contemporary property market is capital obsessed rather than consumption driven.”
The Bill entrusts every state government with the task of setting up a three-member real estate regulatory authority and an appellate tribunal.
The prime purpose to propose a bill is to deter irregularities in property transaction and protect consumer interest and to ensure sale of immovable properties in an efficient and transparent manner.