Upcoming realty bill will reduce corruption in the realestate sector?

Hi Srinivas, as per experts, the main motive of the new real estate bill is to provide protection to home buyers from the developers and reduce corruption. Developers will be penalised if delays will be made by them. New draft has all the provisions from protecting buyers from false advertisements, mis-selling of projects, undue delay in project completion. Heavy penalty for developers found cheating on buyers.

It will also promote affordable housing for urban poor. The Bill will also streamline the development clearances process. The new bill is designed to reduce corruption but nobody knows when and where corruption takes birth and it is tough to stop it. It all depends on people related to the process.