"The Bill will be given a final shape next year and introduced in Parliament. The interests of customers and other stakeholders will be protected," Reddy said on the sidelines of an Assocham seminar.
The government is also looking at repealing urban land ceiling Acts and reducing stamp duty on registration of built property and land -- both State subjects.
Reduction in stamp duty is a part of mandatory reforms and one of the conditions for release of Rs 50,000 crore (Rs 500 billion) central grants to state governments in the next six years under the Jawaharlal Nehru Urban Renewal Mission.
"While entering into an MoU with state governments for release of grants under the mission, the Centre will lay down conditions for abolition of urban land ceiling Acts and curtailment of stamp duties," Reddy said.
Minister of State for Urban Development Ajay Maken said the new master plan for Delhi -- to be announced this December -- would have provisions to liberalise the floor space index and floor area ratio.