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Rajya Sabha approves Real Estate Bill

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New Delhi: The Real Estate Bill, proposing a Real Estate Regulatory Authority, was on Thursday approved by India’s upper house of parliament after the government accepted as many as 20 amendments to the measure as proposed by a Rajya Sabha Select Committee.

The Bill, pending before parliament since 2013, aims to protect the interests of property buyers from unscrupulous promoters and regulate the real estate sector.

The legislative measure will now go to the Lok Sabha for its approval.