State to frame rules for real estate Act

The state's version of the bill to control real estate with focus on consumer welfare will be placed before the Cabinet soon, Housing Minister M Krishnappa said.

“The government is preparing to implement the Centre's Real Estate (Regulation and Development) Act, 2016. The Cabinet will discuss whether to implement the bill as it is or to make some changes,” he said on Monday.

Noting that the draft of Karnataka Real Estate (Regulation and Development) Rules, 2016, was made public in October 2016, he said the rules have been framed after considering the suggestions and objections by representatives of real estate companies and consumers.

Bengaluru Development Minister K J George said,  “The government is committed to establishing an authority to regulate real estate.”