REGISTRATION OF ALL REAL ESTATE AGENTS WILL BE MANDATORY
GOVERNMENT FAVOURS STANDARISATION IN REAL ESTATE SECTOR
HOUSING SHOULD BE ENERGY EFFICIENT- NAIDU
GOVERNMENT PLANNING ON-LINE AND SINGLE WINDOW CLEARANCE FOR REAL ESTATE SECTOR
WE ARE ALREADY ADHERING TO INTERNATIONAL CONSTRUCTION NORMS – ANIL MITHAS
Venkaiah Naidu, minister for Housing and Urban Poverty Alleviation and Urban Development has announced that the Modi government will soon launch Urban Housing Mission to address the housing deficit in urban areas. He said that it will not be an isolated project; instead it will be a step towards integrated housing policy. Earlier schemes such as Jawaharlal Nehru National Urban Renewal Mission (JNNURM), Indira Awaas Yojana, Rajiv Awaas Yojana etc are all being merged into this umbrella policy.
Naidu said that besides Housing Mission, the Modi government is also giving finishing touches to the long pending and much awaited Real Estate (Regulation and Development) Bill 2013. He said that the main purpose of this bill is to bring transparency, fairness and openness in the real estate sector. It will ensure that the property developers fulfill all the promises they make to the buyers besides delivering the property in a time bound manner with desired quality inputs.
He said that accountability and transparency will be two important pillars of new bill to promote ethical business practices to ensure consumer protection in the Real Estate sector. He said that the developers make tell claims in their advertisements and marketing materials but often end product does not match those claims. He said that in case of developer’s default, the regulatory provisions of new act will certainly help consumers.
Naidu emphasized that there is urgent need for standardization in the Real Estate sector and said that the ministry will certainly try to define terms like super area, carpet area, common area, apartment etc to remove any ambiguity in this field. He said that these efforts will help both local as well as international players in this sector.
He, however assured that the government will take all the precautions to safeguard interests of honest and sincere property developers as they perceives them as major driving force of national growth engine.
He said that the ministry is seriously contemplating methods to speedup approval process. They are planning to devise a single window clearance system besides online clearances. He said that he is sympathetically considering the Real Estate sector’s long pending demand to entrust approval powers to local authorities but before any such step is taken, it is imperative to ensure that such authorities have adequate capacities to perform such task.
The minister however informed that steps are being taken to make registration of all real estate agents mandatory with a central agency. He hoped that it will bring much required transparency to real estate sector.
Naidu said that the NDA government is anticipating a big flow of foreign direct investment in the Real Estate sector but before that takes place it is important to put in place transparent, efficient and responsible systems to safeguard interests of all namely, consumers, local developers as well as foreign investors.
He said that the NDA government has already done a lot of spade work in the field of housing and urban governance. They have had elaborate discussions on this issue with state ministers and bureaucrats and a twenty five point reform agenda had already been devised which will act as a guiding force for further development of housing policies.
Naidu said that the Real Estate sector is now ushering in a new era beyond traditional building techniques and construction materials. Soon property developers will be required to meet international standards in terms of energy efficiency, safety and conservation of natural resources. It may cost consumers more but it is unavoidable.
Mr Anil Mithas, Chairman & Managing Director, Unnati Fortune Group welcomed the announcements made by the minister. He hoped that the proposed regulatory measures will safeguard consumers’ interests and reduces red tape in this sector. He said that the Unnati Fortune Group is well aware of international construction norms in terms of energy efficiency, environment conservation; safety etc and they are already adhering to them.
Mr Mithas said that much like his counterparts in the Real Estate fraternity, he too is eagerly waiting for Real Estate (Regulation and Development) Bill 2013 which is expected to come-up for discussion in the next parliament session. He appreciated the Modi government’s multi pronged reformative approach in this sector and assured that his group will do everything to materialize government’s dream to provide housing to all by 2022.
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GOVERNMENT FAVOURS STANDARISATION IN REAL ESTATE SECTOR
HOUSING SHOULD BE ENERGY EFFICIENT- NAIDU
GOVERNMENT PLANNING ON-LINE AND SINGLE WINDOW CLEARANCE FOR REAL ESTATE SECTOR
WE ARE ALREADY ADHERING TO INTERNATIONAL CONSTRUCTION NORMS – ANIL MITHAS
Venkaiah Naidu, minister for Housing and Urban Poverty Alleviation and Urban Development has announced that the Modi government will soon launch Urban Housing Mission to address the housing deficit in urban areas. He said that it will not be an isolated project; instead it will be a step towards integrated housing policy. Earlier schemes such as Jawaharlal Nehru National Urban Renewal Mission (JNNURM), Indira Awaas Yojana, Rajiv Awaas Yojana etc are all being merged into this umbrella policy.
Naidu said that besides Housing Mission, the Modi government is also giving finishing touches to the long pending and much awaited Real Estate (Regulation and Development) Bill 2013. He said that the main purpose of this bill is to bring transparency, fairness and openness in the real estate sector. It will ensure that the property developers fulfill all the promises they make to the buyers besides delivering the property in a time bound manner with desired quality inputs.
He said that accountability and transparency will be two important pillars of new bill to promote ethical business practices to ensure consumer protection in the Real Estate sector. He said that the developers make tell claims in their advertisements and marketing materials but often end product does not match those claims. He said that in case of developer’s default, the regulatory provisions of new act will certainly help consumers.
Naidu emphasized that there is urgent need for standardization in the Real Estate sector and said that the ministry will certainly try to define terms like super area, carpet area, common area, apartment etc to remove any ambiguity in this field. He said that these efforts will help both local as well as international players in this sector.
He, however assured that the government will take all the precautions to safeguard interests of honest and sincere property developers as they perceives them as major driving force of national growth engine.
He said that the ministry is seriously contemplating methods to speedup approval process. They are planning to devise a single window clearance system besides online clearances. He said that he is sympathetically considering the Real Estate sector’s long pending demand to entrust approval powers to local authorities but before any such step is taken, it is imperative to ensure that such authorities have adequate capacities to perform such task.
The minister however informed that steps are being taken to make registration of all real estate agents mandatory with a central agency. He hoped that it will bring much required transparency to real estate sector.
Naidu said that the NDA government is anticipating a big flow of foreign direct investment in the Real Estate sector but before that takes place it is important to put in place transparent, efficient and responsible systems to safeguard interests of all namely, consumers, local developers as well as foreign investors.
He said that the NDA government has already done a lot of spade work in the field of housing and urban governance. They have had elaborate discussions on this issue with state ministers and bureaucrats and a twenty five point reform agenda had already been devised which will act as a guiding force for further development of housing policies.
Naidu said that the Real Estate sector is now ushering in a new era beyond traditional building techniques and construction materials. Soon property developers will be required to meet international standards in terms of energy efficiency, safety and conservation of natural resources. It may cost consumers more but it is unavoidable.
Mr Anil Mithas, Chairman & Managing Director, Unnati Fortune Group welcomed the announcements made by the minister. He hoped that the proposed regulatory measures will safeguard consumers’ interests and reduces red tape in this sector. He said that the Unnati Fortune Group is well aware of international construction norms in terms of energy efficiency, environment conservation; safety etc and they are already adhering to them.
Mr Mithas said that much like his counterparts in the Real Estate fraternity, he too is eagerly waiting for Real Estate (Regulation and Development) Bill 2013 which is expected to come-up for discussion in the next parliament session. He appreciated the Modi government’s multi pronged reformative approach in this sector and assured that his group will do everything to materialize government’s dream to provide housing to all by 2022.
For More Information Visit Us- http://unnatifortune.com/About_us.php