State Credai welcomes bill on real estate
It will also have an adverse impact on low-cost housing schemes
Jun 08, 2013
Source : The Times of India
 
 
 
RAIPUR: Chhattisgarh unit of the Confederation of Real Estate Developers Association of India (Credai) has welcomed the Real Estate Regulatory Bill but said that some of its provisions need to be either amended or removed to protect the interests of both consumers and developers.


In a statement here, Chhattisgarh Credai president Anand Singhania said the existing provisions in the bill approved by the Centre would lead to an escalation in cost of houses. It will also have an adverse impact on low-cost housing schemes.

Pointing out that provisions such as cancellation of registration would delay the projects due to red-tapism, Singhania said that the regulatory body should cover all competent authorities of stakeholders, local bodies concerned among others.
 
 

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