Draft rules of Real Estate (Regulation and Development) Act 2016: Mayor asks stakeholders to give written observations

Sovan Chatterjee, state Housing minister has asked the stakeholders to give in writing their observation on the draft rules of Real Estate (Regulation and Development) Act, 2016.

Their observations will be considered before making the final rules. The stakeholders will give their observation within 15 days. Chatterjee on Tuesday met the stakeholders that included representatives of CREDAI, fight for RERA, Realtors’ Association. The meeting was held in the conference hall of state Housing department housed in the New Secretariat building on Tuesday afternoon. Anindya Karfarma, Director General (building), Kolkata Municipal Corporation (KMC), Khalil Ahmed, housing secretary and senior officials of Municipal and Urban development departments and law departments were present at the meeting.

The state government will set up a Regulatory Authority. The states of Gujarat, Delhi, Utter Pradesh, Madhya Pradesh have already published the final rules. Chatterjee assured that interest of all stakeholders would be taken into consideration before the publication of the final rules. Representatives of Fight for RERA suggested that the real estate rules for Union Territories without legislatures which was issued by the Ministry of Housing and Urban Poverty Alleviation (HUPA) on October 31 be uploaded for comments of the stakeholders.

The stakeholders expressed concern over the projects that have jumped deadline though the flat owners have paid more than 90 per cent of the estimated cost of the flats. For example, in Kolkata West International City, the construction of the towers have not started though the proposed buyers have paid more than 75 per cent of the estimated cost of the flats. Several projects to set up housing complexes during the erstwhile Left Front government regime before 2011, have not taken off. The proposed buyers have paid money. The stakeholders said they would draw the attention of the state government towards such projects while making the final rules.