Aug 3, 2014
The Centre is considering bringing in a real estate development (regulation) bill to safeguard the interests of the consumers and also to streamline the sector.
The government is in the process of holding consultations with stakeholders like CREDAI and the bill could be introduced in the winter session of Parliament.
The fruits of development would fully reach the people if the Centre, states and the urban local bodies (ULBs) worked together.
Observing that the ULBs needs to be strengthened, the 74th Constitutional amendment (that calls for providing adequate funds, functions and functionaries to the ULBs) should be implemented effectively by the states.
There is a need for change in the mindset of the ULBs as they need to take responsibility of collection of taxes and in ensuring transparency and accountability in spending them.