States should recognize the sense of real estate law

New Delhi, July 11: Urban Development Minister M Venkaiah Naidu has been said that his ministry has asked all states to put in place regulatory mechanism related to the Real Estate (Regulation & Development) Act by July 30, he made the statement here on Monday.

We have already written two letters that are constantly in contact with the Chief Ministers. On Monday, the third (final) letter was sent.

While speaking with the media person here at a program organized by National Housing Finance (NHB). Many states have already taken the necessary arrangements and the rest will soon take action. Removing the fears relating to this law, Venkayya clarified many issues.

The Union minister said that All the states have to approve the regulation, notify the rules, appoint regulators and operate regulatory authorities also by July 30, he said. All states have been sensitized to implement the spirit of the legislation passed by Parliament last year.

"I am happy that majority of the states have done it, remaining states will join in the coming days," he said.