Realtors oppose Hry govt's move on regulatory body | chandigarh | Hindustan Times
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Realtors oppose Hry govt's move on regulatory body

chandigarh Updated: Feb 26, 2013 09:58 IST
Hitender Rao
Hitender Rao
Hindustan Times
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The Haryana government's move to constitute a real estate regulatory authority has met with stiff resistance from real estate developers who have sought time from the government to articulate their objections and point of views on the Haryana Real Estate (Regulation and Development Bill), 2013.

The draft bill which was expected to be introduced and passed in the assembly during the ongoing budget session has been deferred consequently.

Several real estate developers, including representatives of DLF Limited, Emaar MGF, Ansals, IREO, Vatika, ATS, Anant Raj Group, met the chief minister, Bhupinder Singh Hooda, and officials on February 20 to express their reservations on the draft bill.

SS Dhillon, principal secretary, town and country planning, on being asked about the fate of draft bill told HT: "All stakeholders met the chief minister last week and sought time till March 15 to study and examine the draft bill. It will not be presented in the House during the ongoing assembly session. The legislation, however, can be enacted by way of an ordinance later."

A principal secretary-rank officer who is close to the chief minister and is on the verge of retirement is expected to be appointed the chairperson of the Haryana Real Estate Regulatory Authority. As per the draft bill, the chairperson or members of the authority will hold office for five years or until they attain the age of 65, whichever is earlier.

On the objections being raised by the developers, Dhillon said it seemed that most of them had not read the draft legislation carefully. "They are apprehensive about the criminal action under the proposed legislation whereas the draft bill has provisions for financial penalties only," he said.

The principal secretary further said that the developers wanted the licensing authority which is the director general, town and country planning department, to be brought under the ambit of the bill. "They spoke about bringing HUDA and HSIIDC under the ambit of the Bill but the fact of the matter is that these organisations are duly covered under the proposed legislation," he said.

Developers, on the other hand, said there were certain overlapping and aberrations in the draft bill that needed to be corrected.

The department has prepared the draft bill for the establishment of the authority for regulation and planned development of the real estate sector, to ensure the sale of immoveable properties in an efficient and transparent manner, and protect the interests of consumers in the sector. The bill seeks establishment of an appellate tribunal to adjudicate disputes and hear appeals from decisions or orders of the authority.

The bill has been uploaded on the department's website for inviting suggestions.