Real Estate Regulatory Bill delayed, Lavisa Infrastructures believes the bill will boost sales

The Real Estate Regulatory Bill may not be tabled in the parliament during the session for this monsoon. The parliamentary panel might need some more time in order to make recommendations on the bill. The panel has also asked experts, individuals, organizations and conglomerates for their suggestions and to propose amendments with reference to the bill. Lavisa Infrastructures among many other real estate firms believe that the bill will bring about better security for investors and hence will boost sales.
Spokesperson for Lavisa Infrastructures believes that the bill will better the transparency in the system and will ensure better safety for investors but it seems that it might be delayed. He further affirmed that the delay is not for bad because the changes that might be made to the bill are for the better.
The bill will entail a detailed discussion about each clause at the Rajya Sabha. MP Anil Madhav Dave and the other members of the 21 member Select Committee of the Rajya Sabha have invited suggestions on the bill for amendments.
The spokesperson at Lavisa Infrastructures believes that the bill is going to have a positive response from various stakeholders. The bill is aimed at setting up a regulatory authority for the real estate sector. The authority would stream line the operations which would help in regulating the proceedings of the sector.
The bill has a proposal to set up Appellate Tribunal to hear appeals concerning the decision, orders and directions from the authorities. Though the bill offers many benefits by increasing transparency and boosting sales, it is being opposed by many political parties, including congress.

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