Highlights of REAL ESTATE REGULATORY BILL • All state to setup Real Estate Regulatory Authority. • No Booking / Marketing without registration of project with Regulator. • 70% of the booking amount to be kept in Escrow A/c for the specific project. • Changes in plan with consent of 2/3rd customers. • All calculation only on carpet area. • All existing incomplete project to be registered within 3 months from the notification of Regulator. • Penalty: 10% of project cost for non-registration, Additional 10% and 3 year prison for continued violations. 5% of project cost for incomplete / inaccurate disclosures. • Brokers / Agents also covered under the act.