Bill to protect home-buyers to be proposed soon, says PM Modi
Prime Minister Narendra Modi promised on Wednesday to protect home-buyers and also said a bill will be pushed in this regard during the upcoming monsoon session of Parliament.india Updated: Jun 25, 2015 19:56 IST
Prime Minister Narendra Modi promised on Wednesday to protect home-buyers and also said a bill will be pushed in this regard during the upcoming monsoon session of Parliament.
He rued that there is a lack of holistic vision about urban planning and said expansion is driven not by the administrators of a city, but by property developers.
"In our country, wittingly or unwittingly, the image of builder lobby is bad," Modi said while launching three flagship schemes for urban development across the nation.
Asserting that his government is sensitive to consumer protection, he said, "A poor person invests all his savings for a house, but when he is cheated, he loses everything. To protect such poor and small consumers, a bill has been brought to Parliament and effort will be made to get it passed in the upcoming session."
The monsoon session is set to be convened from July 21 for three weeks.
Government has introduced the Real Estate (Regulation and Development) Bill, 2013 in Rajya Sabha. It seeks to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building in an efficient and transparent manner and to protect the interest of consumers.
Noting that possessing a house is a turning point in the lives of poor, the Prime Minister said the government's effort is to not just provide a house, but to provide the right environment to live life to the fullest.
Through AMRUT (Atal Mission for Rejuvenation and Urban Transformation) scheme which was launched by him today, Modi said the aim of the government is to give cities themselves the chance to plan their future growth.