noida there will soon be a regulatory body for the real estate sector to protect flat buyers from land sharks said ajay maken the newly appointed union minister for housing and urban poverty alleviation at a press conference here on saturday the minister also stressed the need for proper planning in the housing sector maken said the regulatory bill which would soon be introduced by the centre would keep flybynight operators from entering the residential housing sector the draft of the bill is already being prepared once the bill is introduced rogue builders will be reined in he said maken said statistics show that the number of vacant houses in the country was on the rise accounting for 11 of the total housing units in developed areas occupied by middle and upper middle classes lig houses totalled 187 crore causing a huge shortfall it will soon be mandatory for builders to reserve 35 of their housing projects for setting up homes for the less privileged he added builders will have the option of reserving either 35 of the project or 15 of the far he said the size of the unit will not be more than 25sqm he added