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.