The Government is mulling to introduce the Real Estate Development Regulatory Bill in the winter session of the Parliament, to crack the whip on unscrupulous builders who tricked consumers by not delivering on their promises. Further towards this development, the Union Minister for Urban Development and Parliamentary Affairs M. Venkaiah Naidu unveiled that the bill was under active consideration of the government and the ministry held consultation with all stakeholders including the bodies such the Confederation of Real Estate Developers' Associations of India.
He noted that introduction of this bill, which would safeguard the interest of consumers, would be imperative as builders, engaged in developing private layouts and constructing townships, were escaping their responsibility of providing promised facilities such as sewage treatment plants. However, he also revealed the other part of story, where builders alleged were facing hurdles in securing clearance from as many as 41 different government departments-- to develop housing projects. Hence, the centre to simplify these procedures was mulling some clearance online and speeding up entire process.
According to Parliamentary Affairs minister, the benefits of this could be reaped by all, provided the centre, states and the urban local bodies (ULBs) worked together for its development. He further highlighted the need of strengthening urban local bodies as they need to take responsibility of collection of taxes and in ensuring transparency and accountability in spending them and hence called for implementation of 74th Constitutional amendment by the states.