Realty Bill unlikely be tabled in Parl's monsoon session

The Real Estate Regulatory Bill may not be tabled in the monsoon session of Parliament. The Rajya Sabha committee is expected to meet on July 5 and 6 to discuss the bill clause-by-clause.

Sources say, the parliamentary panel may seek more time for deliberations to recommend a balanced Bill. In this regard, builders could even face imprisonment in extreme cases, ie, if the regulator finds them to be fly-by-night operators. Fly-by-night operators are the ones who depart or flee at night so as to avoid legal constraints from creditors, law enforcement etc.

However, the panel believes that the Centre, state governments and civic bodies should be held accountable as consumers and builders cannot pay for the defaulter authorities in power.

The Bill, which is to check the alleged Babu-builder nexus, will ensure timely approval of projects.