No limit for real estate bill
There was no time-limit set for the implementation and approvals of the real estate bill 2012 by the central government.
Just to smoothen the urban construction, protect consumer interest and to have a healthy real estate developments of apartments and unauthorized colonies, the bill was prepared in consultation with all stakeholders.
The Parliament has not received necessary approvals for introducing the bill, so time-frame has not been finalised yet.
The bill is designed to determine some sort of regulatory authority in addition to an appellate tribunal to regulate, control and promote healthy and planned construction and development, transfer, sale and manage colonies, residential apartments and buildings.
As of now, the Maharashtra Ownership of Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 gave the power to the state government to check timely completion of the real estate projects. Recently a cabinet note was circulated for comments to all the state governments and also there was a meeting regarding the same.
The state government had round up meetings with the office-bearers of municipal corporation and found that the real estate market has opposition for the bill, so there are chances for the bill to get delayed.
Relief from illegal hoardings soon
PMC chasing developers of illegal buildings
Central government, Maharashtra Ownership of Flats, Municipal corporation, Real estate bill, real estate developments, Real estate projects, Residential apartments, Residential buildings, State government, urban construction
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