Swaraj Abhiyan leader Prsashat Bhushan has urged the government to make the Real Estate (Regulation and Development) Bill 2013 an Act, as the residential property buyers have been cheated by the developers.
Bhushan said, in order to prevent forgery of home buyers the RERD bill of 2013 has to be drafted as an Act.
The RERD Bill has been pending for over two years.
The UPA government had approved the Bill in June 2013, and later it was presented in RajyaSabha on 14th August 2013 and it was referred to Standing Committee on Urban Development in September of the same year.
Post the change of guard at the Centre, the new Cabinet discussed the findings of the Standing Committee in December 2014, and yet it has not given any judgement over the matter.
Bhushan said, the government has not taken any decision and it may be (due to) pressure of the real estate lobby as their interest will be threatened if such an Act comes into force.
He explained, If the Act is enacted, then there will be a real estate regulator, independent of government, who can grant licences to real estate developers.
Also, it will be mandatory for the builder to deposit 50 per cent of the amount paid by the consumer before the regulator and which act as a security amount if he fails to fulfill his commitment.
The post Prashant Bhushan demands for RERD Act appeared first on EPC World.