Need to digitise real estate sector

Government has said that all stake holders should work together to ensure that benefit of real estate bill should reach to common people.

Speaking at a workshop of states and union Territories, on implementation of the real estate act in New Delhi, Union Minister for Urban Development and Housing Venkaiah Naidu said that the most significant feature of the Real Estate Regulation and development Act 2016 act is timely implementation of projects.

He said that new real estate bill will strengthen the dream of PM Modi to ensure housing for all by 2022. Besides it will generate various new opportunity of employment as well.

Government has approved the construction of over 14 lakh 87 thousands home at a cost of Rs 80 thousand crore while during the 10 years of UPA government construction of only 12 lakh homes were approved.

He asked the states to gear up to soon implement the law and make all land deals and record digitally available soon.

Venkaiah Naidu described the act as one of the “most consumer friendly” and welcomed by all stakeholders, including buyers and sellers.

He said everybody will get appreciation if the Real Estate Act is implemented in true spirit.