The introduction of the Bill is a politically contentious issue, and it will be interesting to see the course of its developments states such as Haryana, Punjab and Gujarat are devising affordable housing policies by encouraging private developers to undertake affordable housing projects Gift City primarily for the urban poor. The entry of private sector can help tackle the burgeoning issue of housing shortage and fiscal constraints. Earlier this year, then Union minister for Housing and Urban poverty alleviation Mr. Ajay Maken had assured that affordable housing may soon be granted the much-desired 'infrastructure' status and an Urban Housing Fund would be set up to facilitate financing. These innovative financial schemes and legislative reforms promise to change the landscape of realty.
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The Gujarat government will consult all stake holders, including developers, while constituting the state real-estate regulatory authority RERA, Chief Minister Anandiben Patel said today. According to the Real-estate Regulation and Development Bill, 2015, approved by the Cabinet last week, the states and UTs need to establish the ‘Real-estate Regulatory Authority’ to regulate real-estate transactions the bill is still to be taken up for discussion and approval by Parliament. .I know our real-estate developers have some issues related to Real-estate Regulatory Authority. So our state government will consult all stake holders including developers while constituting the regulatory authority for the Gujarat, Patel said while speaking at the Credai Annual Conclave 2015.
Patel added that the state government has addressed almost all the issues of the developers related to real-estate sector and at the same time the state government has taken various initiatives to ease down the registration process the Real-estate Regulation and Development Bill is framed with aim to protect the interest of consumers, promote fair play in real-estate transactions and to ensure timely execution of projects the Bill provides a uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real-estate sector.
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