New Real Estate Laws Come Into Effect Today, Only 13 States Notify Rules

The much-awaited Real Estate Act comes into force from now onwards but only 13 states and UTs have so far notified rules under the Act which Union Minister Venkaiah Naidu said will enable only regulation of the sector and not "strangulation".

The Real Estate (Regulation and Development) Act promises to bring in the much-desired transparency, accountability and efficiency in the real estate sector and the government has described the implementation of the Act as the beginning of an era where the consumer in king.

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