The Supreme Court today took note of the recent Real Estate Bill and disposed of a PIL seeking framing of guidelines to regulate advertisements of real estate developers.
The Real Estate (Regulator and Development) Act, 2016, received the President's assent on March 25, and came into effect from yesterday.
A bench of Chief Justice T S Thakur and Justices R Banumathi and U U Lalit disposed of the PIL seeking curb on unethical practices used by real estate developers, including misleading advertisements by builders.
The petition, filed by NGO Sanrakshak- The Protector in 2007, had sought framing of national guidelines for issuing public advertisements in mass media by builders, developers and land mafia.
It had sought that before publishing any public ad, it should be mandatory for the builders/developers/land mafia to provide each and every document to the publication body so that claims made in the advertisement could be counter-checked and stopped at initial stage itself, so that no innocent person could be duped by false and misleading advertisements.
The apex court had in February 2015 expressed displeasure over the delay by the government in setting up of a real estate regulator to keep a check on activities of realtors.
The apex court had observed that the bill was pending for long after the Union Urban Development Ministry had said it was in the process of drafting it.
The Centre had earlier informed the court that the cabinet had considered the issue on December 17, 2014 and a new cabinet note was being drafted after which the apex court had granted six weeks time to the government to inform about the developments.
The court, in March 2007, had issued a notice to the government on the PIL after which it was informed that the government was mulling setting up a sectoral regulator.
