We’ll introduce real estate bill in monsoon session: Girija Vyas

The government will introduce the Real Estate (Regulation and Development) Bill, 2013 in the monsoon session of the parliament and the industry can give further suggestions at the time of examination by the Parliamentary Standing Committee, Girija Vyas, minister for housing and urban poverty alleviation (HUPA) said at an ASSOCHAM event held in New Delhi recently.“The real estate bill is a very important regulatory issue which has been approved by the cabinet and we intend to introduce it in the ensuing monsoon session of the parliament,” said Vyas while inaugurating the 6th national summit titled ‘Regulatory issues and clearances for real estate sector,’ organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

“The bill would ensure consumer protection and promotion of real estate sector through effective regulation and introduction of speedy mechanism for adjudication of disputes,” said Vyas, adding, “It is a pioneering legislation which shall instill standardization and professionalization in real estate sector thereby catalyzing domestic and foreign investments.”

The minister further informed that all the industry’s concerns have been taken into account through wide ranging consultations with all stakeholders and the government is further willing to incorporate industry’s suggestions at the time of examination by standing committee of the Parliament.

Talking about the rental housing policy, the minister said, “Our goal is to make our cities slum-free and also stop mushrooming of new slums, as such we have introduced the concept of rented houses and we hope to make significant achievements in this regard as we are getting positive signals from state governments.”

She further informed that government will cover entire country in the next lag of government initiated housing scheme of Rajiv Awas Yojana. “We will take it to the cabinet and whole of the country will get covered under the scheme.”

Outlining the focus of the government, the minister said, “Our priority is to provide houses to the weaker sections of the society and this we are willing to do together with the private sector under the public-private partnership model.”

“If the state governments are willing to co-operate then the concept for a single window clearance system should be introduced,” said Ms Vyas while sharing her views on the industry’s equivocal demand for an online single window mechanism.

In his address, HUPA secretary, Arun Kumar Misra said that both government and private sector need to come together and provide housing facility to the poor people of the country.

“Poor and weaker sections of the society have remained a neglected lot for years and the industry including both government and private sector should make significant efforts to provide housing stocks which actually cater to the EWS (economically weaker section) and LIG (low income group) people,” said Misra.

He further informed that ministry would launch a state-wise campaign on July 22 to sensitise state governments about need for an affordable housing policy and the need for single window clearance system.

Talking about the Real Estate (Regulation and Development) Bill-2013, the secretary said, “I would like to assure the industry that it’s a ‘development and regulation’ bill and not only a regulation bill and as and when it gets introduced in the Parliament you will realize that most of the industry’s worries and concerns are actually not well founded.”

“The bill will mark the beginning of a reform movement that will come into the real estate sector,” said Mr Misra.

Amid others who addressed the ASSOCHAM summit included: Dhanendra Kumar, former chairman, Competition Commission of India (CCI); Rajkumar Dhoot, president, ASSOCHAM; Rajeev Talwar, chairman, ASSOCHAM Urban Development Committee; Amrish Jain, co-chairman; Sunil Dhaiya, co-chairman, ASSOCHAM Real Estate Committee and secretary general, D.S. Rawat.