Modi government has instructed states against any dilution of real estate law, passed by the Rajya Sabha on 10th March and by Lok Sabha 15th March, 2016. Widely accepted as RERA this act had been passed to protect the ethics of the buyers and to surge the real estate sale along with the code of law. Now the centre has again declared that any minor move which happens to be a jag in the execution of RERA in the state level, will be followed by serious overtones, including a mass scale uproar. The ruling ministry also made it certain that all under construction buildings that haven’t been delivered any completion certificate by May 2017 will come under the regulatory system.
On Tuesday Union housing minister M Venkaiah Naidu stated to chief secretaries and secretaries of state housing departments that the Real Estate Regulation Act was "one of the most consumer-friendly law passed by Parliament, and states had no power to dilute its provisions"."There are a lot of expectations from this Act from all stakeholders. There are some media reports that some states have diluted a few of the Act's provisions in the rules notified by them. States don't have such powers and I hope such reports are not true. Today, I want to make it clear that any compromise with the spirit of the Act will have serious implications, including public outcry," Naidu told the state representatives in particular.
RERA came into force from May 1st 2016 with 69 of 92 notified norms. This cautionary comes in the midst of reports of some of the BJP-ruled states such as- Gujrat, Maharashtra and MP modifying and curbing the rules, which are somehow disturbing the balance and appear to be biased in the builders favor. Even there are some issues with notified laws of UP, which don’t meet the terms of the union introduced laws related to the ongoing real estate units. It’s seen that Gujrat, the state which came first with the notified RERA rules, has also mixed and moderated some rules in this provision to be good-hearted to the builders.
The ministry also said no to all offers and suggestions to amend some norms came from the state level. This is mostly raised in demand of bringing all existing projects are built over plots over 500 sq mtr size under the law. But housing secretary Nandita Chatterjee told states that no amendments to the Act would be considered at this stage since full implementation of the Act would begin only in May. Union Cabinet Ministry had already permitted 20 major amendments to the bill based reference.
SD Group Kolkata- We have all our realty offerings at ready to move state. If you are looking resdiential units in VIP road area, have your eyes on our on hand 2 BHK flats in VIP road area. These affordable flats will surge your expectations along with the architecture and various offerings.
On Tuesday Union housing minister M Venkaiah Naidu stated to chief secretaries and secretaries of state housing departments that the Real Estate Regulation Act was "one of the most consumer-friendly law passed by Parliament, and states had no power to dilute its provisions"."There are a lot of expectations from this Act from all stakeholders. There are some media reports that some states have diluted a few of the Act's provisions in the rules notified by them. States don't have such powers and I hope such reports are not true. Today, I want to make it clear that any compromise with the spirit of the Act will have serious implications, including public outcry," Naidu told the state representatives in particular.
RERA came into force from May 1st 2016 with 69 of 92 notified norms. This cautionary comes in the midst of reports of some of the BJP-ruled states such as- Gujrat, Maharashtra and MP modifying and curbing the rules, which are somehow disturbing the balance and appear to be biased in the builders favor. Even there are some issues with notified laws of UP, which don’t meet the terms of the union introduced laws related to the ongoing real estate units. It’s seen that Gujrat, the state which came first with the notified RERA rules, has also mixed and moderated some rules in this provision to be good-hearted to the builders.
The ministry also said no to all offers and suggestions to amend some norms came from the state level. This is mostly raised in demand of bringing all existing projects are built over plots over 500 sq mtr size under the law. But housing secretary Nandita Chatterjee told states that no amendments to the Act would be considered at this stage since full implementation of the Act would begin only in May. Union Cabinet Ministry had already permitted 20 major amendments to the bill based reference.
SD Group Kolkata- We have all our realty offerings at ready to move state. If you are looking resdiential units in VIP road area, have your eyes on our on hand 2 BHK flats in VIP road area. These affordable flats will surge your expectations along with the architecture and various offerings.
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