New Delhi real estate will soon have a regulator by the end of 2010. Urban Development Minister S. Jaipal Reddy said Thursday. He also said the government was talking to other states to have similar regulators.

“The state governments have sounded positive. It would take time to happen. But Delhi will get a regulatory authority for the real estate by this year,” Reddy told.

He said the legislation process for the real estate regulator for Delhi would soon be completed as the draft bill has been circulated to the stakeholders.
According to him, the regulator once in place would prevent Delhi real estate players from indulging in unnecessary profiteering.

The minister also said the Delhi Metro rail will stretch to 190 km in the national capital region (NCR) by the time the Commonwealth Games start here October 3.

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Tags: Delhi Metro rail, Delhi real estate, National Capital Region (NCR)

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