It proposes to set up a regulator in every state.
Laws in several states are inconsistent with the model Bill passed by Parliament.
Real estate regulation Bill is consumer-friendly and promotes transparency but does not address the issue of inefficiencies in the approval process and other delays by government bodies.
Lok Sabha Speaker Sumitra Mahajan will also hold a meeting with leaders of all political parties on Wednesday evening to seek their cooperation in proper functioning of the House.
Speaking at the all-party meeting called by the government, Modi said, "People have great expectations and that is why Parliament should function and be productive."
The 30-share Sensex ended down 556 points at 27,886 and the 50-share Nifty ended down 158 points at 8,444.
Experts say with a stable government, things will start improving but the impact might be visible only after six-12 months.
Participants are keenly waiting for the January IIP.
The winter session of Parliament is set to be stormy with Opposition parties closing ranks to target the government on issues including 'intolerance' even as the ruling dispensation expressed its readiness to discuss all issues.
The government on Tuesday said it may reconvene Parliament's Monsoon Session to get key legislations, including the pending GST bill, passed, maintaining it has an "open mind" on amendments to reform measures even as it began consultations with leaders of opposition parties.
The leader should be cautious while accusing the Modi government of cronyism.
The winter session of Parliament beginning on Thursday is expected to be a stormy affair, with the opposition set to raise the 'intolerance' issue.
Budget might turn out to be neutral for the sector.
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