Dedicated Monitoring Unit RequestThe Ministry of Housing should create a body to manage all state Real Estate Regulatory Authorities, according to a national homebuyers association. This suggestion was presented at a meeting with the Ministry of Housing and Urban Affairs.

The state-owned construction giant NBCC sold 4 lakh square feet of premium office property in Nauroji Nagar, South Delhi, in a landmark real estate deal.

A large proportion of urban migrants live in slums, informal settlements and unauthorized colonies, in order to save rental costs. They spend a substantial time commuting to their workplaces either by walking or cycling to reduce the travel expenses.

The body is asking the ministry for prompt action for the benefit of the real estate sector and home buyers.

In the backdrop of the disruption caused by Covid-19, the government will look into the demands of the real estate industry, including an extension of project completion timeline by 6-9 months and extension of building permissions secured already as per Ministry of Housing and Urban Affairs.