KNN Bureau Sectors 16 Mar 2016 12:53:42 <strong><strong><img alt="RERA Bill would abolish many existing flaws in real estate sector: Kalraj Mishra" src="http://knnindia.co.in/knnuploads/uploads 4.1.14/kalraj-mishra-16-3-16.jpg" style="width: 320px; height: 220px; border-width: 1px; border-style: solid; margin: 1px; float: left;" /></strong>New Delhi, Mar 16 (KNN)</strong> Union MSME Minister Kalraj Mishra hailed the passage of Real Estate Bill in the lower house of the Parliament and said that it would transform the Real Estate sector.<br /> <br /> Writing on the micro-blogging site twitter, the Minister said, &quot;Big Cheers for Home Buyers as #RERABill passed in Lok Sabha too,great news for aspiring house buyers.It will transform the Real Estate sector.&quot;<br /> <br /> Mishra said that the Bill ensures transparency, accountability and efficiency in real estate sector. It will abolish many existing flaws too.<br /> <br /> The bill regulates transactions between buyers and promoters of residential and commercial real estate projects. It establishes state-level regulatory authorities called Real Estate Regulatory Authorities (RERAs). Promoters will have to register all projects developed in 500 sq metre or above with the RERAs.<strong> (KNN Bureau)</strong> 14118 http://knnindia.co.in/sectors/rera-bill-would-abolish-many-existing-flaws-in-real-estate-sector:-kalraj-mishra/31-14118.go 16 Mar 2016 12:53:42 KNN