Naidu to CMs: Implement realty law in letter & spirit

NEW DELHI: Concerned about the dilution in real estate regulation rules by states and in contravention of the central Act, Union housing minister M Venkaiah Naidu on Monday wrote to all chief ministers asking them to ensure that the law is implemented in “letter and spirit”.

Naidu has said that all incomplete projects will have to be registered with the respective regulator in each state by July 30.

TOI on Monday highlighted how states including Harayana, Maharashtra, Gujarat and Uttar Pradesh have diluted the central norms to keep most of the ongoing projects out of the ambit of Real Estate (Regulation & Development) Act.

“I am deeply concerned by some media reports that some states/UTs have diluted the provisions of some sections of the Act in the draft rules prepared. You would agree that the Act of Parliament has a certain inviolable sanctity and there can no such dilution of the provisions of the Act and the spirit of the Act,” Naidu wrote to states.

The minister said the Act has stipulated that promoters shall register all ongoing real estate projects (that have not received completion certificates as on May 1) with the regulator within three months from the day of the Act coming into force (by July 31, 2017).

“No new projects can be offered by developers to buyers without their registration with regulatory authorities. This, therefore warrants putting in place real estate rules, regulatory authorities and appellate tribunals immediately,” Naidu said in his letter.

On Monday, Chhattisgarh became the fourteenth state to notify the real estate rules.

RERA provides specific time frames to ensure necessary rules and regulations, regulatory authorities, appellate tribunals and other infrastructure are put in place so that buyers can have access to the authorities for seeking redressal of their grievances.

Section 84 of the Act required the states and the designated competent authorities to notify the real estate rules by last October and Sections 20 and 43 had stipulated that regulatory authorities and tribunals were set up by April 30.

Expressing his concern about little over half a dozen states notifying the rules, Naidu has said, “You would agree that this does not do justice to the concern and the spirit with which the Parliament passed this historic legislation.”

Source- Et Realty