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BUYER PROTECTION - More teeth for real estate Bill (HT)

Postby webmaster » Sat Mar 19, 2011 10:36 am

BUYER PROTECTION - More teeth for real estate Bill (Hindustan Times)
Moushumi Das Gupta
NEW DELHI
March 19, 2011

UNDER THE NEW ACT, BUILDERS RISK LOSING THEIR LICENCE IF THEY DON'T KEEP PROMISES ON DEADLINE, QUALITY
: In a move to safeguard buyers from builders and land sharks and regulate the real estate sector, the housing and urban poverty alleviation ministry has redrafted the model real estate Bill -pending since 2009 -to add more teeth to it.

Taking note of complaints of substandard materials, cheap accessories and delays in completion, the ministry has decided to make the draft Real Estate (Regulation of Development) Bill a central Act under the concurrent list. This will not only make it mandatory for states to implement it once the Bill is notified, but it will also give powers to the Centre to enforce the provisions. The previous form of the Bill did not make it mandatory for the states to adopt the Act.

The ministry plans to introduce it in the monsoon session of Parliament after inter-ministerial consultations and cabinet approval. “Once it's a central legislation, it will become obligatory for states to implement it. The implementation will be fast. Also, it will be a uniform law across the country,“ said a ministry official.

Under the Act, states will have to set up regulatory authorities and make it mandatory for developers to get themselves registered. The promoter will have to give an undertaking to complete the work in accordance with the conditions of registration, failing which his licence can be cancelled.

www.hindustantimes.com/More-teeth-for-r ... 75171.aspx
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Re: BUYER PROTECTION - More teeth for real estate Bill (HT)

Postby s1joshi » Sun Mar 20, 2011 11:30 pm

One more article courtsey Mr MK Gupta, He is a founding member of Dwarka Forum, and has been leading several initiatives in the region.

Pl. consider to put this on your website
MODEL REAL ESTATE BILL

20.3.2011.



The Govt. has will introduce the Real Estate Bill in the Monsoon session of Parliament. It is not clear in the bill whether it will also cover the government agencies but the bill should cover the government agencies. I cite few examples. The Delhi Development Authority has launched Rohini Residential Scheme in March 1981. Even after 30 years, over 25 thousand applicants are waiting for the plot. A good per centage of applicants have already left this world waiting for their turn. Now, the matter is before the Delhi High Court and the next hearing is fixed on 20th April. Even, the last draw of the DDA was surrounded in number of allegations and in most of the cases in the Delhi High Court were dismissed on technical grounds. One case of Shri Salek Chand Jain was dismissed as his advocate did not appear twice in this case without an authorization from the petitioner. The last word of the veracity of the draw is yet to come and the case against Economic Offence Wing of Delhi Police has not been finally decided at the Central Information Commission.

We know that serious allegations were levelled against the Lucknow Development Authority at the time of SP rule for allotting plots to the top notches of ruling parties of the time. Even, in one case, the charge was that the allotment was made even before the application was submitted with registration money.

In 2004, everybody knows about the scam in the draw held in July 2004 for the NOIDA Plot Scheme and the Court ordered fresh draw by canceling the rigged draw. It also asked other government agencies than NOIDA to conduct the draw for NOIDA Authority which indicate that even the Court was unsure about the fairness of the draw if conducted again by the NOIDA. In a draw of another government authority at Greater NOIDA few years back, a person was caught red-handed trying to rig the draw with a registration number in his possession while taking out the slip of fortunate applicants from the box. The questions have also often been raised in the allotment process adopted other government agencies too.

Therefore, real estate agencies under the government must also been brought under the ambit of this bill as it is wrong perception that the system of allotment is fair with govt. agencies.

About the private sector, I give a recent example of a reputed promoter viz. Vatika group, Gurgaon. It launched a scheme of hundreds of plots in Thousend Park in its Infotech City, Jaipur scheme in May/ June, 2005. Though the group promised to give the possession of plots within three years, it has not given possession the same till today i.e. close to six years. An official of the Company said that the high tension lines are passing through the area which was earmarked for these plots, thus the area could not be acquired and developed. Thus, the Company has hoodwinked its customers.

To check such malpractices and hoodwinking by the Government’s as well as private real estate agencies, it is imperative that Govt. should introduce a suitable bill as soon as possible to safeguard Aam Adami from being duped by dishonest real estate agencies.


Thanks you SIr.

Seema Joshi
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Re: BUYER PROTECTION - More teeth for real estate Bill (HT)

Postby s1joshi » Sun Jul 31, 2011 10:00 pm

The monsoon session will be starting from tomorrow, The government had initially promised to introduce the Real Estate Regulatory act in the monsoon session of Parliament, However it doesn't look like if the government has any seriousness or urgency about bringing legislation toward the same. There are hardly any debates or national level discussions going on the same.

Wish this bill gets the attention it deserve, It will certainly help curb major chunk of corruption in our country.
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