STOCK MARKET BSE NSE

Make Real Estate Bill an Act: Bhushan

Published: 13th October 2015 10:13 PM  |   Last Updated: 13th October 2015 10:13 PM   |  A+A-

By PTI

NEW DELHI: Amid cases of home buyers being cheated by builders, activist-lawyer and Swaraj Abhiyan leader Prashant Bhushan today urged the government to take steps to make the Real Estate (Regulation and Development) Bill 2013 an Act.

Addressing a news conference in association with Home Buyers Association, Bhushan said the RERD Bill has been pending for over two years now and was very esssential for safeguarding the interests of home buyers.

He said the UPA government had approved the bill in June 2013, following which it was introduced in Rajya Sabha on August 14, 2013 and referred to Standing Committee on Urban Development in September that year.

After the change of guard at the Centre, the new Cabinet discussed the findings of the Standing Committee in December  2014, but did not take any decision on the matter.

"The amendements were approved by the Cabinet in April this year. But we learnt that on May 6, the changes suggested by the Cabinet were again referred by Rajya Sabha to another Select Committee. "We feel the government has not taken any decision and it may be (due to) pressure of the real estate lobby as their interest will be threatened if such an Act comes into force," Bhushan said.

Maintaining that the bill may not be a foolproof protection against erring builders who dupe consumers, he said it is certainly a "good start".

"If the Act is enacted, then there will be a real estate regulator, independent of government, who can grant licence to real estate developers. Plus, it will be mandatory for the builder to deposit 50 per cent of the amount paid by the consumer before the regulator and which act as a security amount if he fails to fulfill his committment," Bhushan said.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp