The Supreme Court struck down West Bengal's law on regulating the real estate sector in the state, and said it was unconstitutional as the statute encroached upon the Centre's Real Estate Act
Overall, all top metros, except for Gurugram, witnessed a fall in number of unit launches
Altogether, five states account for a significant 81% share, with 36,576 out of 45,307 projects registrations as on October 5
According to the draft rules, it will be mandatory for a realty project promoter to upload all disclosures, including information and documents, to the website of the RERA
Framing rules becomes necessary following enactment of the Real Estate Act, which seeks to protect home buyers and boost investments in the sector
The Ministry of Urban Development will come out with such rules for the National Capital Region of Delhi
The new Act will force more transparency and disclosure from builders and will encourage investments into real estate
An official statement said that the rules will be made 'within a maximum period of 6 months' according to the provisions of the Act
The provisions of the Real Estate (Regulation and Development) Act, 2016, are more coercive than what were required to address market failure