Axiom
INDIA - 91 33 4020 4020   UK - 020 3290 4536   USA - 646 480 0364
Sign In  I  Sitemap   
AxiomEstates - India Real Estate
     India Properties Worldwide
 
Bookmark and Share
E-mail Print Tell A Friend


Residential Properties

 
 
Indian Real Estate News
Real Estate Bill to be presented in winter session of the Parliament: Ajay Maken
Source: ET Bureau Oct 31, 2012
The Central government will push the states to give bankable property rights to urban slum dwellers and is in the process of creating a legislation for the same, said the newly-appointed minister of housing and urban poverty alleviation Ajay Maken. The former sports and youth affairs minister also said that the much-awaited Real Estate (Regulation and Development) Bill is expected to be presented before the parliament in the winter session. "In order to give long-term bankable property rights to slum dwellers, a Model Bill is being sent to the state governments. The states will be required to come out with an executive order in a year and later legislation will be passed," Maken said.
On the day of taking charge of the ministry, Maken told reporters, slum dwellers rehabilitation would be done at the same place in order to ensure that their livelihood is not impacted. "In case they are required to be rehabilitated, it would be in the vicinity of five km of radius," he said, adding, "These provisions will be made mandatory for the states," the minister said.
The Centre would also insist on the states to provide up to 35% floor area ratio in projects for the economically weaker sections. He also expressed the willingness to take forward the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Bill, 2012, which seeks to protect the rights of vendors and regulate their activity in public areas.
"We will take forward the street vendors bill and ask the state governments not to remove vendors and protect their rights. We will also ensure that they are lent money at lower interest rates to let their businesses flourish," he said. Commenting on the Real Estate Regulation Bill, which seeks to regulate the real estate business, he said it was expected to be tabled in the parliament in the upcoming winter session.

Tag: real estate bill, Ajay Maken, realty trends,real estate in india
 Leave your comments
  
Comments

Citywise News
    All India
    Kolkata
    Mumbai
    Delhi NCR
    Bangalore
    Goa
    Pune
    Chennai
    Other Cities
News Category
    Home Loans
    Announcements
    Tax and Legal
    Policy
    Commercial
    Infrastructure
    FDI
    Developer
    Others
Axiom