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Real Estate Bill was passed in Rajya Sabha on Thursday. The Real Estate (Regulation and Development) Bill, 2015 after several amendments was accepted by the Union Cabinet on Dec 9, 2015. Moving 'The Real Estate (Regulation and Development) Bill, 2015' for consideration and passage, Urban Development Minister M Venkaiah Naidu said it aims to protect the interests of buyers and bring more transparency in the sector. The Congress had extended its support to the Bill, which was passed by a voice vote in the House. It is touted as a major reform measure to regulate the vast real estate sector and bring order in it. Following is the chronology of events leading to the passage of Real Estate Bill by Rajya Sabha: (PTI)
1. Real Estate Bill: Ministry of Law & Justice suggested a Central Law for regulation of real estate sector in July, 2011. Union Cabinet approved the Real Estate Bill, 2013 on June 4,2013. (PTI) 
2. Real Estate Bill: Bill was introduced in Rajya Sabha on August 14, 2013 and was referred to the Department Related Standing Committee on September 23, 2013. (PTI) 
3. Real Estate Bill: Report of the Standing Committee was tabled in Rajya Sabha on February 13 and in Lok Sabha on February 17,2014. Attorney General upheld validity of central legislation for real estate sector on February 9,2015. (PTI) 
4. Real Estate Bill: Union Cabinet approved Official Amendments based on the recommendations of the Standing Committee on April 7,2015. Bill of 2013 and Official Amendments referred to the Select Committee of Rajya Sabha on May 6, 2015. (PTI) 
5. Real Estate Bill: Select Committee tables its report along with the Bill of 2015 on July 30,2015. Real Estate Bill, 2015 was approved by the Union Cabinet on December 9, 2015. (PTI) 
6. Real Estate Bill: Real Estate Bill, 2015 was listed for consideration and passing in Rajya Sabha on 22 and 23 December, 2015 but could not be taken up. The Real Estate (Regulation & Development) Bill, 2016 passed by Rajya Sabha on March 10, 2016. (PTI) 
The benchmark BSE Realty index was trading 2.83 per cent up at 1,356.09. (PTI)
