Government open to modify Real Estate Regulatory Bill if needed: Girija Vyas
Dec 14, 2013
Source : The Economic Times

 

DELHI: Speaking on the sidelines, she said: "We have said that doors are open for negotiations. At present, the Bill has been placed in front of Parliamentary standing committee."

CREDAI would also present its views to the committee, she added.

"I cannot say when the committee will give its report. Generally, their recommendations are accepted. We will also discuss and understand these people's suggestions. We want regulation with transparency that is the basic purpose," the Minister said.

Vyas said the government is keen on bringing reforms in all areas which are key for the housing sector development.

"The sector has to grow. Flow of money should be there," she said, adding that the Ministry would consider their demand of rationalisation in tax structure and increase in floor space area. "Your issues will be taken up at highest level. I will meet the PM and the FM," she said.

Asked when the Ministry will take up the issues with the Prime Minister, Vyas said: "Once we receive their problems and after sorting, we will take up their issues as early as possible with the highest authorities."

"I will try to meet the Prime minister with industry issues as early as possible," she said.

On chances her meeting the PM this month, Vyas said, "it is difficult".

The Real Estate Regulatory Bill seeks to protect home buyers from unscrupulous developers. It has provisions like jail term of up to three years for offences like putting up misleading advertisements about projects repeatedly.

The Bill intends to make it mandatory for developers to launch projects only after acquiring all statutory clearances from relevant authorities. It makes it mandatory for builders to clarify the carpet area of flats as well.

 

 

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