Sobha Dream Acres Rent the new Bill real-estate regulatory bodies will be formed in all state capitals. These regulators such as those present in state pollution control boards might end up being political appointees and add to the existing red-tape, real-estate developers said the on-going projects should be kept outside the purview of the real-estate regulator as and when he/she is appointed. To ask an on-going project to get registered with the regulator will mean hunting for old documents and certificates. This will hold up projects he said adding that the Bill should not be retrospective in nature. There is one more serious issue. Prestige Lakeside Habitat Rent clause dealing with the cancellation of registration of the real-estate projects can be misused. People, who wish to target developer and their projects, might use this clause to file false complaints against developer, Anand added.
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