Anti-corrupting Real Estate

For many, if not most people, buying residential property is the biggest investment they make in their lifetime. Last week, the government released for public comments a Draft Real Estate Regulation Bill, which is said to be on its way to becoming the law in the winter session of the parliament. As such, this is a step towards bringing some semblance of consumer protection to the decidedly anti-consumer practices of the real-estate industry. However, this news did give me a strong feeling of déjà vu. When I googled the phrase ‘india real estate regulatory bill’, I came across a newspaper article from 2006 saying that a real estate regulatory bill was expected to be passed in the 2006 winter session of the parliament. I also

This article was originally published on December 05, 2011.