A step towards ending the jungle law in real estate

The draft Bill unveiled by the Union government to set up a regulator for real estate seeks to address a key need that has so far remained unattended. The largest investment most people make in their lifetime is in a place to live, but the housing market is governed by the law of the jungle in which the developer is the lord. This situation has prevailed in part because unaccounted big money generated in politics is deployed in real estate and politicians can hardly be expected to clean up the sector. So the official move is to be welcomed.

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