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Real Estate under the eagle eyes of Govt.

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Monitoring the hoaxing of the real estate dealing around the nation Government is making a smoother way for both consumers and realtors by drafting a bill. Soon a Real Estate Regulation and Development Bill will be introduced at the fourth coming parliament session in winter. The draft is ready to safeguard the interest of the customers with proper transparency of the policies set by the developer company. With a short note with Kumari Selja - Union Housing and Urban Poverty Alleviation Minister said that the proposed draft bill will be uploaded for the suggestion of the public at the website of Ministry by 11 November. Taking account the adequate suggestion for the draft it will be produced at the winter session for its final approval. She also adds that for few days the bill will be at the domain of the public and also open to the suggestion for the system of single window clearance. Selja also makes clear that the bill will be very helpful to the buyers without injuring the interest of the real estate developers. At the most it will be balance bill for both the teams specially to arrest some of the fly at a night realtors
But there is a mix reaction for this bill as CREDAI is making a opposite comment against the proposed draft. They say that the bill after the implementation will gear up the level of corruption more than it was earlier. They also point out at the increasing rates of materials which kept out of the bill and most importantly delay of the site approval by the Govt. official itself was not included at the safeguarding bill of the Govt. So there is an appeal to look at these matters to along with the rest so that all can work in a smooth lane of business.
Source: Press Trust Of India

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