Govt to encourage state-level regulators for real estate
The government will encourage setting up of state-level regulators for the real estate sector, Urban Development Minister S. Jaipal Reddy told reporters on Thursday.
“A quasi-judicial regulator is required in big cities as both consumers and builders may need protection,” he said on the sidelines of a real estate summit.
“Land is a state subject so there can not be an all-India authority. But we will encourage this plan while giving assistance to state governments under Jawaharlal Nehru Urban Renewal Mission,” he added.
The government is also considering increased grant of up to 30-35 percent of total cost for public transportation project, from 20 percent now, he said.
