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Take persoTake personal interest in Real Estate Act’s implementation: M Venkaiah Naidu to CMsnal interest in Real Estate Act’s implementation: M Venkaiah Naidu to CMs


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Take persoTake personal interest in Real Estate Act’s implementation: M Venkaiah Naidu to CMsnal interest in Real Estate Act’s implementation: M Venkaiah Naidu to CMs

With four states and six UTs notifying the final real estate rules, Union Minister M Venkaiah Naidu has urged chief ministers to take personal interest in ensuring implementation of the Act.

In a letter dated February 9 to all chief ministers, he said, “Real Estate Act is one of the most important reforms for the sector which would bring benefits to all stakeholders.

“It is therefore, my sincere request to please bestow your personal attention to this matter so that the Act is implemented in time and in the spirit with which it was passed by the Parliament,” he said.

“Appropriate governments are required to establish the Real Estate Regulatory Authorities and the Appellate Tribunals, maximum by April 30, 2017,” Naidu said.

“The timelines are important as the Act would commence its full operation from May 1 and in the absence of Rules and Regulatory Authority and Appellate Tribunal the implementation of the Act would be affected in your state, leading to a vacuum in the sector,” he said in the two-page letter.

The minister said the Real Estate Act, 2016 was one of the most consumer-friendly laws passed by the Parliament and its timely implementation was the responsibility of both the central and state governments. It would not only provide the much needed consumer protection but would also give a fillip to the sector, benefiting all the stakeholders, he said.

Housing and Urban Poverty Alleviation Ministry had organised a consultative workshop with all the states/UTs last month to review their progress.

The ministry, mandated with the responsibility of making rules for UTs without legislatures, has done so for Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu and Lakshadweep while the Ministry of Urban Development has done so for Delhi.

A few other states have been reported to have notified only draft rules seeking views and suggestions from stakeholders. States that have notified final rules are Gujarat, Madhya Pradesh, Kerala and Uttar Pradesh.

The ministry has also referred the complaints regarding the dilution of some of the provisions of the Act to the Committee on Subordinate Legislation of Rajya Sabha.

From May 1 this year, under the provisions of the Act, both buyers and developers of real estate property can approach Real Estate Regulatory Authorities seeking relief against violation of the contractual obligations and other provisions of the Act.

 

 

financialexpress.com