Revised Real Estate Regulation Bill will be enacted soon: Venkaiah Naidu
The Urban Development, Housing & Urban Poverty Alleviation Minister M. Venkaiah Naidu on Friday mentioned in New Delhi that the BJP Government is set to bring out a revised Bill to regulate the real estate sector.
Naidu did not give details about the contours of the Bill, however mentioned that the earlier Bill has lapsed and his ministry is interacting with the real estate stakeholders and States before bringing out the bill. Naidu is of the opinion that their views should be considered and wherever feasible should be incorporated in the bill as it impacts them directly.
The Minister has had one round of meeting with CREDAI (The confederation of Real Estate Developers’ Associations of India) and will meet industry chambers such as FICCI (Federation of Indian Chamber of Commerce and Industry) soon.
The Real Estate (Regulation and Development) Bill, 2013, was introduced by the UPA Government in the Rajya Sabha in August 2013. It provided the institution some sort of a uniform regulatory environment and aimed at protecting the interests of home-buyers and establishing a mechanism for settlement of disputes.
The government is looking at regularising this act to materialise the dream of ‘’Housing for all by 2022’’. Naidu mentioned that a range of financial models are being looked at to make this dream a reality.
Source- The Hindu Business Line
Congress-led UPA government, M Venkaiah Naidu, Real estate regulation bill, Union Urban Development Minister Venkaiah Naidu, UPA government
