#RealtyNewsRoundup: States Get Time Till Nov 27 To Notify Real Estate Act Rules

Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.

The Centre has extended the timeline for the states to notify the Real Estate Act. Now, all states have got time until November 27 to notify the regulations. If states still fail to meet this timeline, the Centre can approach for another extension. Meanwhile, the government is planning to ask states to set up interim real estate regulators and start basic functions such as registration of projects till the time the final regulator is set up. Only Haryana has appointed an interim regulator till now.

The Centre will soon come up with a single-window clearance facility to accord speedy approval for construction of buildings with a time limit of 60 days. This was stated by Union Minister Venkaiah Naidu who added that the plan was to speed up the process to ensure transparency, avoid delays and corruption.

The students of Indian Institute of Technology, Madras, have designed a two-storey house out of metal frames and iron panels that can be unfolded and fixed to accommodate 20 people. Each house costs close to Rs 3 lakh. Such a house can play a crucial role during natural disasters when a large number of people are displaced.