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Draft Real Estate bill to be a new torture

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Claimed sources to www.propertykhazana.com says, the term of the draft realty bill is regulating the sector as the ‘Public Amusement and Developer Harassment Bill’, and realtors says that the government should come up with the comprehensive and with the efficient option. Meantime, the Government has said that the future law is alerted on the ‘Aam Admi’ without aiming the builders. Speaking to www.propertykhazana.com Lalit Jain President of CREDAI said that “In the present form the Bill is nothing but the ‘Public Amusement and Developers Harassment Bill’.” “I like to alleviate the industry that government is not aiming it and I guarantee the people that the Act will be balanced on the consideration of the developers interests” the Ministry of Housing and Urban Poverty Alleviation Minister Kumari Selja said to builders who had given the complaint. And also she had put the draft Realty (Regulation and Development) Bill in 2011 in the public area for commentary. The government is conscious of the anxiety and protest by the industry about the draft Bill and it will be addressed.
“We require it to avoid the unreliable operators to come in to the trade and we require it to guard the clients and we don’t require the licence Raj and leave us to do the trade without any force” said Lalit Jain to the sources. The bill will not only kill the interest of realty developers but also avoids the original and concerned people from coming into the trade. Pradeep Jain also said that even if the segment is contributing about 10% of the country’s GDP, government is not holding it and even the banks are not giving the financial support to the ventures. Even CREDAI had suggested the registration of the ventures is compulsory under the bill before starting the work and may become as “Breeding Ground of Corruption.”
Source: NIMMA BENGALURU

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