Track2Realty: In wake of stiff resistance from the states over the proposed regulator to safeguards the consumer interest against shady realty deals & delays, the Centre has reportedly decided to allow the states to set up their own grievance redressal mechanism.
Track2Realty-Agencies: The government should take steps to monetize under-utilized land resources of public sector enterprises, port trusts and railways, a panel set up to chart out the roadmap on fiscal consolidation has recommended.
The government has said “no specific instance” of flow of terror funds into the real estate sector has come to its notice. “As per the current assessment of revenue intelligence agencies…no specific instance of flow of terror funds into the real estate sector has been found,” Minister of State for Finance S S Palanimanickam said in a written reply in the Lok Sabha. However, he said, “investigations by the Income Tax Department reveal unaccounted or undisclosed income or assets in various sectors of the economy, including real estate.”
CREDAI has opposed the proposed Land Acquisition and Rehabilitation & Resettlement (R&R) Bill, and said with proposed R&R to the farmers the construction industry would become an unviable proposition.
The much awaited and largely discussed Real Estate (Regulation & Redevelopment) Bill, pending since 2009, is finally been ready and the Government plans to introduce it in the winter session of Parliament after getting Cabinet approval.
Union minister for housing and urban poverty alleviation Kumari Selja has said that the Centre is expected to bring the real estate regulator bill in the winter session.
The landmark Land Acquisition, Rehabilitation and Resettlement Bill that seeks to lay down norms for increased compensation to land owners, is all set to be tabled in Parliament today.