Nod to Real Estate Bill by Parliament; relief for home buyers

March 15, 2016

New Delhi, Mar 15: It will now be difficult for promoters and builders to delay projects, with Parliament today giving nod to a bill which gives relief to home-buyers and proposes imprisonment of up to three years besides monetary penalties for any violation of rules.naidu

The Real Estate (Regulation and Development) Bill, 2013, approved by Lok Sabha today, five days after its passage by Rajya Sabha, is designed to protect consumer interest, ensure efficiency in all property-related transactions, improve accountability of developers, boost transparency and attract more investments to the sector, the government said.

It provides for setting up of a Real Estate Regulatory Authorities (RERAs) which will ensure timely execution of projects.

The RERAs will regulate transactions related to both residential and commercial projects and ensure their timely completion and handover.

The proposed law makes it mandatory for all residential and commercial projects to register with the Regulator and will apply to new and ongoing projects.

Appellate Tribunals will now be required to adjudicate cases in 60 days as against the earlier provision of 90 days and Regulatory Authorities will have to dispose of complaints in 60 days. In the earlier bill, no time frame was indicated.

The Bill provides for imprisonment of up to three years in case of promoters and up to one year in case of real estate agents and buyers for any violation of orders of Appellate Tribunals or monetary penalties or both.

Replying to debate on the bill, Urban Development Minister M Venkaiah Naidu said the Bill envisages that "What you are committing, what you are promising, please fulfill. What you are promising through advertisements, please fulfill that. That is the purpose of this Bill."

Naidu also sought cooperation from the states for faster clearances to projects to make this Bill, which will override all state legislations, a success.

"We are trying to make the beautiful advertisements given by developers in front page of newspapers dutyful. Our ultimate intension is to ensure consumer satisfaction. Once the Bill is notified, you will get more investments in the real estate sector, early clearances and property prices will come down," he said.

Government is also trying to bring in a National Urban Rental Housing Policy, he said, adding that the policy would take into account the requirements of tenancy hassles in modern days.

"There will be a boom in the real estate sector because of the Bill. Private people, foreign investors, will come and invest. People will buy more properties," the minister said.

Naidu said there has been numerous delays in project execution which the law seeks to address. "Real Estate Bill is a regulation and not a strangulation".

The law provides for builders mandatorly setting aside 70 per cent of money collected from buyers during the pre-sale of homes, for sole use for construction of the project.

Naidu said the bill also provides for buyers and developers paying the same interest rate for any delays in payment or delivery of project respectively.

He said as per the Bill, open parking is part of common area because people sell flats separately and car parking separately. Project can be developed in phases but provisions of the law will apply to each phase.

The Bill was first introduced in the Rajya Sabha in 2013.
"It was originally a Congress party baby. It was a baby which was left out and now we are adopting it," Naidu said.

At this, Congress leader Mallikarjun Kharge remarked that the NDA government should not met out "step motherly" attitude to the Bill.

Naidu said the mandatory registration for projects has been brought down to 500 sq m area, or those comprising eight flats, from 4,000 sq mt proposed in the previous version of UPA government.

It provides for a clear definition of carpet area and a system that would require the consent of two-thirds of the buyers in case there are changes in project plans.

Naidu said Parliament is not interfering in the process of buying or selling of a property and instead is ensuring customer satisfaction.

"If the builders have any problem, I can meet them any time. Whatever difficulties they face, we are willing to discuss," he said.

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News Network
February 1,2020

Feb 1: The Congress on Saturday expressed hope that the Union Budget would provide relief to the salaried class through tax cuts and invest in rural India besides providing a healing touch to the common man and industry facing “hardship” since demonetisation.

Congress chief spokesperson Randeep Surjewala said the last budget led to crashing consumption levels, soaring unemployment and falling GDP. “Budget 2019= Consumption crashed, Unemployment soared, Farm distress surged, Incomes declined, Investments slumped, Public spending fell, GDP nose dived!,” Surjewala tweeted. “Yet, Modiji gave Corporate Tax Cuts of Rs 1,45,000 crore. Let Budget 2020 give tax cuts to Salaried Class and invest in Rural India,” he said

Rajasthan Chief Minister Ashok Gehlot hoped the budget fulfils expectations of the common people. “Budget 2020 is the time for NDA government to provide a healing touch to common people and industries facing hardships since noteban. Hope the budget fulfils expectations of common people and provide relief across sections,” Gehlot said.

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News Network
June 26,2020

Jun 26: The Supreme Court on Friday permitted the Centre and the CBSE to cancel the remaining board examinations due to the COVID-19 pandemic and gave the go-ahead for the scheme to award marks to students for the cancelled papers scheduled to be held in July.

A bench of Justices A M Khanwilkar, Dinesh Maheshwari and Sanjiv Khanna permitted the CBSE to issue a notification for the cancellation of the examinations.

Solicitor General Tushar Mehta, appearing for the Centre and the CBSE, said that the assessment scheme would consider marks scored by students in the last three papers of the board exams.

Both CBSE and ICSE told the top court that the results of the class X and XII board exams can be declared by the middle of July.

The top court was hearing pleas seeking relief, including scrapping of remaining exams of Class 12 scheduled from July 1 to 15, in view of increasing number of COVID-19 cases. Similar relief was sought by the ICSE Board also.

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April 23,2020

New Delhi, Apr 23: The entire Muslim community cannot be held responsible for one group's "crime", Minority Affairs Minister Mukhtar Abbas Naqvi said on Thursday while reacting to instances of Muslims being blamed for the spurt in COVID-19 cases after Tablighi Jamaat congregation here, and asserted that most of the minority community members have condemned the group's action.

In an interview to news agency, Naqvi also expressed confidence that Muslims will abide by lockdown guidelines during the holy month of Ramzan.

He said across the India, imams, Ulema and Muslim organizations have unanimously decided that during Ramzan (the Islamic holy month), Muslims will not congregate in mosques, religious places and perform all rituals like 'Iftaar' (breaking of fast) and 'taraweeh' (special prayers) at home keeping in mind social distancing norms.

Naqvi said he has spoken with state waqf board officials, social and religious leaders, imams on adherence to the lockdown and social distancing guidelines during the Ramzan month starting Friday or Saturday evening and they have begun creating awareness among the people.

Asked about some people blaming Muslims for the spread of the pandemic after a large number of cases were found linked to the Tablighi Jamaat event at Nizamudddin here, Naqvi said the whole community cannot be held responsible for the "crime" of one organisation or one person.

"Whatever that organisation did, criminal negligence or crime...most Muslims have strongly reacted to it, condemned it and called for action against it. Entire community cannot be held responsible for one person or one organisation's crime," he asserted, adding that this has always been India's culture.

Last week, the Union Health Ministry had said 29.8 per cent of the total COVID-19 cases — 4,291 out of 14,378 COVID-19 infections — in the country were linked to the Tablighi Jamaat congregation in March at the group's headquarters in Delhi following which some sections of the society severely criticised Muslims, and blamed them for the spread of the pandemic in the country.

Naqvi's comments also assume significance in view of the 57-member prominent international Mulim grouping, Organisation of Islamic Cooperation (OIC), asking India to take "urgent steps" to protect the rights of its minority Muslim community and stop the incidents of "Islamophobia" in the country.

Hitting out at the OIC, the minister had said the country is "heaven for Muslims" and those trying to vitiate the atmosphere of prosperity cannot be friends of Indian Muslims.

Naqvi said those targeting Muslims are few isolated people who are trying to spread "misinformation" and "we should be united and isolate such elements".

On the COVID-19 lockdown restrictions during Ramzan, Naqvi said no Muslim wants to stay away from mosques during the holy month, but everyone has resolved to win this battle against coronavirus.

During this month, everyone should pray to God that not only India but also the entire world is freed from this COVID-19 pandemic, he said.

Asked whether Muslims have followed lockdown and social distancing guidelines till now, Naqvi said, "absolutely, the entire country is standing united in this fight against coronavirus."

"When Prime Minister Narendra Modi had appealed to people with folded hands, he had appealed to 130 crore Indians, it was not based on caste or religion. And everybody responded to his appeal and acted on it," he said.

People have faith that whatever Prime Minister Modi does is for the health and safety of the people, Naqvi said.

Asked about the role of the Opposition in the fight against COVID-19 and Congress chief Sonia Gandhi and Rahul Gandhi's suggestions, Naqvi said,"some people have criticized, but that is their habit, we don't take any offence to it."

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