Union Cabinet has approved the Real Estate (Regulation and Development) Bill, 2015, as reported by the Select Committee of Rajya Sabha. The bill is aimed at protecting the interest of consumers, promoting fair play in real estate transactions and ensuring timely execution of projects. <br/><br/>It provides uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real estate sector. It will boost domestic and foreign investment in the Real Estate sector and help achieve the objective of Central Government to provide Housing for All by enhanced private participation. <br/><br/>The Bill ensures mandatory disclosure by promoters to the customers through registration of real estate projects as well as real estate agents with the Real Estate Regulatory Authority.<br/><br/>Applicable both for commercial and residential real estate projects will come under the purview of proposed legislation.