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Realty Act will make home buyer the king, says Venkaiah

Last Updated 02 May 2017, 21:24 IST

Union Minister for Housing and Urban Poverty Alleviation M Venkaiah Naidu on Tuesday said the Real Estate (Regulation and Development) Act, 2016, will usher in accountability and transparency in the sector making the “home buyer the king.”

Addressing a press conference here, Naidu said provisions of the Act, which became a law on May 1, will ensure that developers keep the promise they have made in their prospectus to buyers. The regulations have been brought to protect home buyers and encourage genuine private players, he said. “The government wants the developer to fulfil all promises made to the buyers like facilities and time-frame. Those who cheat will face action.”

Naidu pointed out that the Karnataka government was yet to frame rules for the Act. Karnataka Housing Minister M Krishnappa promised that the final rules would be notified within 15 days, Naidu said.

He said as “land” is a state subject, state governments have been given the powers to make “small changes” in the legislation. However, the state governments should not dilute the spirit of the Act, he said. The Act has a provision to curb jacking of land prices. “Land prices in some pockets of Bengaluru are higher than that in New York and Washington, which is atrocious,” he said.

Naidu, who also holds the Urban Development portfolio, reviewed the implementation of  Smart City Mission, Amrut, Swacch Bharat, Hriday and Pradhan Mantri Awas Yojana in Karnataka. He said it is the dream of every citizen to own a house and the Centre is trying to make it possible through Pradhan Mantri Awas Yojana. The total demand for houses under the scheme is 18.35 lakh and the state government has been asked to verify the genuineness of the applicants. Construction of 1.46 lakh houses has already commenced, he said.

Naidu said the Centre has urged the state government to make amendments to master plans of cities and earmark land for affordable housing besides removing requirement of permission for separate non-agricultural use if the land falls in the residential zone.

Ministerspeak

Rs 428 cr sanctioned for Smart City Mission in Hubballi-Dharwad, Mangaluru, Shivamogga and Tumakuru.
Progress of integrated development of Badami town under Hriday scheme poor.
Ranking of cities under Swacch Bharat to be announced in New Delhi on May 4
25.45 lakh new water connections have been provided in 27 cities in the state under Amrut scheme
Credit rating of all municipalities taken up
Bengaluru to be declared open defecation-free by Aug 31, 2017, and entire Karnataka by Oct 2, 2018 

Draft rules soon

Bengaluru Development Minister K J George on Tuesday said the state government will finalise the rules for implementing the Real Estate Act within 15 days. The government is currently holding discussions with all departments concerned and experts on finalising the rules. The draft rules will be placed before the Cabinet to take an appropriate decision,
he told reporters. 

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(Published 02 May 2017, 21:24 IST)

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