Most Significant Bills To Come Up This Parliament Session

By siliconindia | Thursday, 30 October 2014, 12:57 Hrs

6. The Real Estate (Regulation And Development) Bill, 2013

The Bill regulates transactions between buyers and promoters of residential real estate projects. It establishes state level regulatory authorities called Real Estate Regulatory Authorities (RERAs).

The Bill establishes state level tribunals called Real Estate Appellate Tribunals. Decisions of RERAs can be appealed in these tribunals. The Bill mandates that 70 percent of the amount collected from buyers of a project be used only for construction of that project.

7. The National Identification Authority Of India Bill, 2010

The central government plans to issue a unique identification number (called Aadhaar) to every resident of India. The number shall be linked to a resident’s demographic and biometric information.

The information collected shall be stored in the Central Identities Data Repository. This shall be used to provide authentication services.