The government has warned the builders to face strict action if they fail to meet time schedule given for completion of the housing projects. Replying to a debate on the Demands for Grants of his Ministry for 2016-17, Minister for Housing and Urban Poverty Alleviation Venkaiah Naidu said, the Real Estate (Regulation and Development) Act, 2016 has come into effect from 1st of this month. <br/><br/>He said, Act will help eliminate unscrupulous players who attract the consumers by lucrative hoardings about the housing projects. He said, after notifying the Act, now his Ministry is in process of framing rules of the Real Estate Act and by July this year the model rules will be ready. Under the Act, both the Centre and the State governments will have to frame rules within a period of six months for carrying out the provisions of this Act. <br/><br/>He said, the government has set a target of housing for all by 2022 which is challenging. He said, it requires huge budgetary allocations for which his Ministry has approached the Finance Minister to allocate more funds. He also appealed to the States to send housing project proposals for speedy approval. He clarified, there is no discrimination in approving projects of States by the Centre. Later, the House passed the demands for grants rejecting all cut-motions.