UD ministry sleeps over Delhi real estate bill
Illegal buildings, like the one that collapsed in the Laxmi Nagar area on Monday, are mushrooming all over the city, risking the lives of hundreds.delhi Updated: Nov 18, 2010 00:05 IST
Illegal buildings, like the one that collapsed in the Laxmi Nagar area on Monday, are mushrooming all over the city, risking the lives of hundreds.
But the government doesn't seem to be bothered much. The Delhi Real Estate Bill has been pending for over three years now with the Union urban development (UD) ministry and is unlikely to see the light of the day anytime soon.
"Had this bill been in place, it would have given city agencies more teeth to penalise unscrupulous builders and monitor rampant unauthorised constructions," said a senior Delhi government, official who did not want to be named.
The ministry had drafted the Delhi Real Estate Management (Regulation and Control) Bill way back in 2007 to rein in errant builders and real estate agents in the National Capital Territory of Delhi.
But amid allegations and counter-allegations of favouring builders' lobby and going easy on government agencies such as the Delhi Development Authority (DDA), the bill has got stuck in bureaucratic red tape.
"The draft bill will be finalised soon, maybe by early next year," said a ministry official.
At present, the Capital does not have any system in place to protect property buyers against unscrupulous real estate developers, agents and promoters.
There are complaints galore of how developers and property agents make tall promises of providing various facilities in flats to lure buyers.
Instances of substandard material used in construction, cheap accessories fitted in flats to maximise developer's profit, and mammoth delay in completing construction on time are rampant.
Also, there is no way property buyers can touch government agencies, like DDA that provide housing, if the final product delivered by them is not up to the mark.
It was to address these issues that the proposal for a Real Estate Regulatory Authority was mooted. Its mandate was to regulate property transactions, bring the commission charged by property dealers/agents within acceptable and taxable norms and bring transparency to real estate transactions.
The Haryana government has already passed the Haryana Regulation of Property Dealers and Consultants Bill 2008, to rein in unscrupulous property developers and agents.