Cabinet defers decision on real estate regulator Bill
The Union Cabinet deferred considering a draft law to set up a regulator for the real estate sector with provisions for jail term for the developer for putting out misleading advertisements about projects. A decision on the real estate regulator Bill has been deferred, a Union Minister said. The Real Estate (Regulation and Development) Bill seeks to to provide a uniform regulatory environment to the sector.
Allotments not be cancelled till disposal of DLF-CCI case
Apartment buyers in a housing project of DLF,which is engaged in a long-running case against the fair trade regulator Competition Commission of India (CCI),have got interim relief as the company has agreed before a tribunal on not cancelling allotments due to non-payment of charges during pendency of the case. The Competition Appellate Tribunal has provided for this relief in an interim order passed by it with regard to DLFs Magnolia project in Gurgaon near the national Capital. Similar directions have been earlier passed by the tribunal for DLFs two other projects,Park Place and Belaire. The tribunal has also said that any rights of the flat buyers,which might arise after disposal of the case,would not be affected if they want to take possession of the houses after making the outstanding payments demanded by DLF. The company has been charged by the CCI of having indulged in anti-competitive practices and of abuse of its dominant position. CCI had imposed a fine of Rs 630 crore on DLF in a case involving Park Place and Beliare projects,while non-monetary sanctions were imposed in the Magnolia case too.
PHD Chamber presents memorandum on housing to Govt
The PHD Chamber of Commerce and Industry held a meeting with Ajay Maken,Union minister of housing,and submitted recommendations evolved from the conference that the chamber organised,National Housing Symosium Incentivising Housing for the Urban Poor. A key recommendation was facilitating loans for the economically weaker sections,said Suman Jyoti Khaitan,president,PHD Chamber. The other key recommendations were: linking of Census House List data and House Hold data in Census 2011 and using them to develop regional/local stimulation models to predict local housing demand,encouraging land pooling to overcome the scarcity of land. The chamber also advocated encouraging rental housing and the enactment of a separate Rental Housing Complexes Act. The chamber also called for increase in FSI in the Capital and a greater role for panchayats in regulating housing.