The recently approved real estate regulatory bill is a good law to protect the interest of both buyers and developers, but this should not be one-sided

The realty sector is the backbone of the economy and that the recent reforms initiated by the NDA government, especially the law on Real Estate Regulatory Authority brought in during the Budget session of Parliament, is one sided, as it aims at regulating the builders only and not local authorities, who give approvals and are the main cause of the delay in com pleting a project and cost escalation.

“In less than two years of its tenure, the NDA government has brought a sea change in the way the sector operates--especially by laying stress on infrastructure develop ment--which will benefit all stakeholders. The positivity that these new measures have brought is immense and the slump in the market is slowly but steadily easing off,“ Mr.Sharma said.