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Wednesday, Oct 11, 2006

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New Bill planned to regulate realty

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New Delhi, Oct. 10

The Government is planning to bring a Bill in the Parliament next year for the regulation of the real estate sector for the protection of the interests of consumers. ``The Bill would be given final shape next year and brought in the Parliament,'' said Mr S Jaipal Reddy, Minister for Urban Development, on Monday.

While speaking at a Confederation of Real Estate Developers of India conference, the Minister said he was also looking at liberalising the floor area ratio. "To allow vertical growth, we are looking at liberalising the FAR, at least in Delhi to begin with," he said.

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