The Confederation of Real Estate Developer’s Association of India (CREDAI), has attempted to get the Prime Minister’s supervision towards the most critical issue of the real estate industry at present, the Real Estate (Regulatory and Development) Act, which came into force in May this year. The Association has also asked Reserve Bank of India for it’s guidance on the same issue. After taking the account of the status of the newly introduced Act, it was necessary for the Association to do so as most of the states have delayed the implementation of the Act and others don’t have proper Authorities for the same.
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