Proposed legislation in India would, for the first time, impose a nationwide system for the regulation of builders and property developers. Proponents of the Draft Real Estate (Regulation & Development) Bill, 2011 are hopeful that the bill will soon be introduced in India's Parliament and come into force sometime in 2012. The legislation has been widely discussed and disseminated, and hotly contested by some industry stakeholders, since at least 2009. At a November press conference unveiling the draft bill, Minister for Housing and Urban Poverty Alleviation Kumari Selja said that the aim of the legislation is to intervene in the unregulated development industry in order to ensure accountability on part of promoters.
[Read the full article in the January 2012 Issue of Boundaries - for Members Only]