It will decide on housing disputes and will have powers to punish errant builders
GN Bureau | June 16, 2015
Recognising the unique needs of Maharashtra, especially that of Mumbai, the centre has approved formation of a regulatory body to safeguard interests of home buyers.
The regulatory authority for the real estate will be a quasi-judicial body and resolve the disputes related to the housing sector. It will have a chairman with powers to punish or fine culprits like builders or developers. The authority will also hold hearings like courts.
The centre gave a go ahead to the state to frame rules to implement the state housing regulatory bill passed by the legislature and approved by the president. The Maharashtra Housing (Regulation and development) 2012 was passed two years ago and the presidential assent came last year.
The centre’s similar legislation in parliament is yet to be okayed by the Rajya Sabha and hence the Maharashtra government was to hold back implementation of its own law. But now the state has got a go ahead under its own regulatory authority law.
"The process of framing of rules is in progress and the delay was because the Centre had framed a similar law "Real Estate" (Regulation and Development Bill) and wanted the state to adopt it. However, the Central government's bill is pending in the Rajya Sabha. We explained to the Centre that Mumbai's housing needs are different from the rest of the country. There was urgent need for a housing regulator and that our provisions were better than the proposed central law. Our submission has been accepted and we will have our own housing regulator," Shrikant Singh, Principal Secretary Housing department said.
"We have got official nod from the Centre to set up our own regulatory authority for the state. We are in the process of forming rules and regulations after which the authority will come into existence," Singh said.
Singh said consultations are on with law and judiciary and finance departments for framing rules regarding setting up of the regulator.
Union Minister for Education and Skill Development & Entrepreneurship Dharmendra Pradhan Saturday launched the Bharatiya Bhasha Utsav and inaugurated the two-day Technology & Bharatiya Bhasha Summit in New Delhi. The summit aims to facilitate a seamless transition from the current education ecosyst
India has retained the 40th rank out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organization. India has been on a rising trajectory, over the past several years in the Global Innovation Index (GII), from a rank of 81 in 2015 to 40 in 2023. Inn
Prime minister Narendra Modi addressed the programme marking 20 years celebration of the Vibrant Gujarat Global Summit at Science City in Ahmedabad on Wednesday. The Vibrant Gujarat Global Summit was started 20 years ago, on September 28, 2003, under the leadership of Modi, then chief minis
It is often said that industry is at 4.0 and education is at 2.0. To transform education in line with artificial intelligence (AI), it is imperative to adopt what companies like Google are doing. We must learn to grow along with AI as AI is going to grow. There is a need to evolve the mindsets of educators
Saturday Stories By Rashmi Bansal HarperCollins, 176 pages, Rs 250 From the bestselling author of ‘Stay Hu
Oracle has showcased new AI-powered capabilities within Oracle Analytics Cloud. Leveraging the Oracle Cloud Infrastructure (OCI) Generative AI service, the new capabilities assist analytics self-service users to more quickly and efficiently conduct sophisticated analysis and make better business decisions