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Proposal to set up real estate regulator in Maharashtra awaits Fadnavis’s nod

The Maharashtra Housing (Regulation and Development) 2012 was passed two years ago, while the Presidential assent came in 2014.

| Mumbai | Published: December 11, 2015 2:08 am

Even as the Union cabinet has cleared the Real Estate (Regulation and Development) Bill, which will set a regulatory framework for the real estate sector, a proposal to set up a separate such regulator in Maharashtra is pending before the chief minister for approval.

Maharashtra was the first state to take the initiative under the previous Congress-NCP government to introduce a law aimed to regulate the real estate sector from the point of safeguarding the interest of consumers. However, the Bill was pending for enactment as the state government was waiting for approval from the Centre, which had told Maharashtra to put it on hold in light of its own Bill to have a regulator for the real estate sector.

Chief Minister Devendra Fadnavis had last month said the Union government had given its go-ahead and the state would soon complete the requisite formalities to set up a housing regulatory authority and a housing appellate tribunal.

“We had drafted the proposals for the housing regulatory authority and a tribunal and submitted it to the chief minister for approval, but there has been a delay due to a clerical mistake,” said a housing department official who did not wish to be named.

He said the pages were not filed in the appropriate order, and the Chief Minister’s Office sent it back to the department saying the proposal did not have the chief secretary’s signature.

“We have rectified the mistake and re-submitted the proposal. We have learnt that the CMO is seeking the opinion of a senior bureaucrat who was instrumental in the introduction of the Bill when he was with the housing department. We hope it will be approved soon,” added the official.

The Maharashtra Housing (Regulation and Development) 2012 was passed two years ago, while the Presidential assent came in 2014.

The regulatory authority will be a quasi-judicial body and resolve disputes related to the housing sector. While both contain provisions for appointment of an independent Real Estate Regulatory Authority, the Maharashtra government argued that the state’s legislation was more exhaustive and far-reaching.

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  1. N
    Neeraj Jain
    Feb 22, 2016 at 9:59 am
    by the pace at which it is moving: legislation ped in 2012, Governors ent in 2014, now 'some senior bureaucrat being consulted" i suspect this is only a ploy to extort from the builders and then delay the implementation of the legislation. the builders defiitely will not like this new act and would be willing to pay a price to the Politicians to keep it on hold.
    1. J
      Dec 11, 2015 at 3:48 am
      It must be implemented ASAP. Customers are helpless under the might of these builders. Bring all current projects in it's ambit and save the hapless customers. Compel the builders to compensate the buyers where the project has not started within a year of receiving booking amount from buyers. Give the builders a timeline to complete these projects without compromising quality and amenities. Few such big residential projects have shown high handedness in Panvel, Navi Mumbai. Please help.
      1. S
        Dec 11, 2015 at 11:00 am
        Oh yes. Indiabulls Park (recently renamed from Greens to Park) is one such project in Panvel. Sold flats 5 years back. More than 2500 flats out of 3500 already sold. Construction started a week back. People have lost lakhs of rupees on interest only. Indiabulls unwilling to compensate these customers !! Master plan changed 7-8 times without taking 2/3 customers' consent. Amenities like school, hospital, mall etc. dropped in the current plan. Customers to wait another 4/5 years to get their flats. Means 10 years wait for your flat. Height of exploitation by the builder.