Provisions of Real Estate (Regulation and Development) Bill
Q. Which of the following statements is/are correct about Real Estate (Regulation and Development) Bill?
1. It paves the way for establishment of one or more ‘Real Estate Regulatory Authority' for one or two or more states.
2. The law makes it compulsory registration of real estate projects and real estate agents. - Published on 11 Dec 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Both
- Real estate agents to sell properties registered with the Authority and have to maintain books of accounts, records and documents.
- Real Estate Regulatory Authority is to act as the nodal agency to co-ordinate efforts regarding development of the real estate sector and render necessary advice to the appropriate Government to ensure the growth and promotion of a transparent, efficient and competitive real estate sector.
