State government to notify draft of Real Estate Rules today
The state government will notify the draft of the Real Estate Rules on Friday to get the opinion of the public and stakeholders. After getting the views of public, the government will analyse them and then publish the final notification.
State Housing minister Sovan Chatterjee had earlier said the government was eager to frame the rules and the draft notification would be published soon.
Justice (Retired) Pranab Chatterjee, chairman of the state Law Commission, is also studying the draft rules. They will also be sent to the Confederation of Real Estate Developers Associations of India (CREDAI).
Real Estate (Regulation and Development) Act, 2016 was passed by the Parliament in March this year. As per Section 84 of the Act, state governments are empowered to frame Real Estate Rules. The initial deadline was October 31, which was later extended to November 27.
Only a few states have framed the final rules within the deadline, which includes rules notified by the Union Ministry of Housing and Urban Poverty Alleviation for union territories without legislature. For Delhi, the Ministry of Urban Development will frame the rules.
In Gujarat, Uttar Pradesh and Madhya Pradesh final rules have been notified, whereas in Karnataka and Maharastra draft rules have been notified.
Prospective buyers, who are often at risk of being cheated by builders, welcomed the state government’s move and hoped their suggestions would be considered seriously. SK Basu, who had booked a flat in a housing complex six years ago but is yet to receive possession, said: “We hope that errant builders will be brought to book.
However, in states where the final draft has been published, builders have been given protection and the interest of the affected buyers has not been taken into account. We have faith in Mamata Banerjee and strongly feel that she will stand by our side.”