The Union Cabinet has approved the Real Estate (Regulation and Development) Bill to set up a regulator for the real estate sector in the country. According to highly placed sources, this was approved in the cabinet today.

The bill seeks to make it mandatory for developers to launch projects only after acquiring all the statutory clearances from relevant authorities.

It has also provisions under which all relevant clearances for real estate projects would have to be submitted to the regulator and also displayed on a website before starting the construction work.