Delhi real estate regulator by this year-end

Source :economictimes

NEW DELHI: Delhi will have real estate regulator by this year-end, Urban Development Minister S. Jaipal Reddy said Thursday.

He also said the government was talking to other states to have similar regulators.

"The state governments have sounded positive. It would take time to happen. But Delhi will get a regulatory authority for the real estate by this year," Reddy told.

He said the legislation process for the real estate regulator for Delhi would soon be completed as the draft bill has been circulated to the stakeholders.

According to him, the regulator once in place would prevent real estate players from indulging in unnecessary profiteering.

The minister also said the Metro rail will stretch to 190 km in the national capital region by the time the Commonwealth Games start here October 3.