Realty body sceptical about proposed regulatory billDecember 8th, 2011 - 10:13 pm ICT by IANS
Mumbai, Dec 8 (IANS) Apprehending a return to ‘licence raj’, a top realty body Thursday objected to several provisions in the proposed Real Estate Regulation & Development bill and sought more time to study in detail its implications.
Pointing out that only the developer/builder should not be held responsible - to the extent of jail terms or revoking registration of the projects - for completing housing projects as there are multiple factors beyond their control, it could see a return to ‘licence raj,’ said Maharashtra Chamber of Housing Industry President Paras Gundecha.
“In the interest of all stake holders, competent authorities, corporations, and government authorities should also be made responsible for giving time bound sanctions and permissions. Hence, we suggest a ‘one window clearance’ to be implemented,” Gundecha said.
He was commenting on the provisions in the Ministry of Housing & Urban Poverty Alleviation’s proposed regulatory bill for the realty sector, for which the Centre has invited suggestions till Dec 9.
Gundecha said that the proposed bill has far reaching implications, being the first ever comprehensive legislation affecting almost every aspect of the industry, starting from and reaching up to managing, sale and delivery of Projects in future.
MCHI secretary Boman Irani said that the proposed bill required in-depth study and intense discussion between the government and all the stake-holders.
“The 30-day period to respond to the Bill is inadequate for the general public or by Housing Industry or any other interested parties, persons or groups,” he said.
With a membership of over 1000, MCHI, formed nearly three decades ago, accounts for around 80 percent of all development projects, including residential and commercial, in Mumbai and the surrounding regions of Thane and Raigad districts.
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Tags: boman irani, competent authorities, corporations, development projects, government authorities, housing industry, housing projects, jail terms, mchi, ministry of housing, other interested parties, poverty alleviation, proposed real estate, raigad, regulatory bill, sanctions, stake holders, thane, three decades, urban poverty