Govt forced to defer real estate bill in RS
Facing number crunch in Rajya Sabha, government was on Wednesday forced to defer a bill that seeks to regulate the realty business after opposition insisted on referring it to the Parliamentary Standing Committee. Urban Development Minister M Venkaiah Naidu said the Real Estate (Amendment) Bill should be deferred to allow government time to have more consultations with parties. He stated this after opposition demanded that the Bill be referred to the Standing Committee as soon as it was moved for consideration and passage. "We do not have majority in this House...I am aware of it," Naidu observed while suggesting deferment of the Bill. The bill, moved by the previous UPA government, has been brought by the current dispensation with amendments to the proposed legislation that will bring under its ambit commercial and all ongoing projects as also brokers while safeguarding consumers.