Parliamentary panel on real estate Bill seeks feedback

The bill aims to ensure sale of plot, apartment buildings in an efficient and transparent manner and protect the interests of consumers.

New Delhi: The parliamentary committee on the Real Estate (Regulation and Development) Bill, 2013, has invited suggestions from stakeholders on proposed amendments to the legislation before being tabled in the next session of Parliament.

The 21-member Select Committee of the Rajya Sabha headed by MP Anil Madhav Dave has asked individuals, organisations, institutions and experts to submit their views on the Bill within 10 days.

All correspondence may be sent to Joint Director (Com III) Rajya Sabha Secretariat, Room 212A, Parliament House Annexe, an official statement read.

"Those desirous of submitting memoranda or giving oral evidence before the committee may visit the website of Rajya Sabha, rajyasabha.Nic.In under the heading 'Notice Board'," it added.

The Bill, which seeks to set up a Real Estate Regulatory Authority for regulation and promotion of the sector, has been referred to the Select Committee for examination, and the panel has been instructed to report to the Rajya Sabha "by the last day of the first week of next session".

Among other things, it aims to ensure sale of plot, apartment buildings in an efficient and transparent manner and protect the interests of consumers.

It also seeks to establish an Appellate Tribunal to hear appeals from the decision, directions and orders of the Authority.

The Congress and other opposition parties had opposed the amendments and forced the Bill to be referred to the Select Committee of the Upper House.

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