Sir — This refers to the editorial, “Regulating real estate” (March 12). The Real Estate (Regulation and Development) Bill was long overdue. The new Bill will not only bring more transparency in financial transactions, but will also disclose all information like project layout, approval, land status, contractors, schedule and completion of project etc.
The handing over of the tenements was unnecessarily delayed even beyond five years in certain cases. People went without interest for their investment. Besides, they were forced to pay market rent for their living before getting the completed house. Further, more black money is ploughed in this sector indiscriminately. This is a welcome Bill that is focused towards the the welfare of the investors.