States can’t dilute Real Estate Act; M.Venkaiah Naidu warns of public outcry
He addressed a meeting of Chief Secretaries and senior officials of States and UTs convened by the Ministry of HUPA to discuss implementation of the Real Estate Act.
Venkaiah Naidu said “ Real Estate Act is one of the most consumer friendly laws passed by the Parliament and States have no power to dilute its provisions. This law, which was widely welcomed and appreciated benefits both the buyers and sellers of real estate properties besides enhancing the credibility of the sector."
"There is lot of hope and expectation from this act by all the stakeholders. There are some media reports that some States have diluted some provisions of the Act in the Rules notified by them. States don’t have such powers and I hope such reports are not true," he said.
"Today, I want to make it clear that any compromise with the spirit of the Act will have serious implications including public outcry. Whoever does so will have to face the public outcry. I expect the States and UTs to rise to the occasion and ensure implementation of the Act from May this year as proposed in the Act by taking necessary measures in time," he said.
Later, various aspects of the Real Estate Act were discussed in detail. Responding to the views and suggestions made, Nandita Chatterjee, Secretary (HUPA) clarified that no amendments to the Act would be considered at this stage since full implementation of the Act would begin only in May this year when Real Estate Regulatory Authorities and Appellate Tribunals would become functional.
Chatterjee also clarified that the minimum plot size of 500 sq.mt proposed in the Act for registration of projects with Regulatory Authorities was arrived at after several rounds of discussions by the Parliamentary Committees and in the Parliament and it can’t be altered now.
She said that the cut off date for the ongoing projects that have not received completion certificates for including under the purview of the Real Estate Act would be May first this year, from when the full Act comes into effect.
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