Government today expressed hope that Property Regulating Bill might be talked about and approved within the ongoing budget session of Parliament.
Real Estate Bill is pending before Parliament and also the government is hopeful that whenever discussion, it may be passed within the ongoing session, Urban Development Minister Venkaiah Naidu stated in answer extra questions throughout the issue Hour.
Around the concerns elevated by a few people if the Center were built with a to legislate on property which fell within the domain from the states, he stated the federal government had searched for the opinion from the Attorney General who stated it is incorporated in the concurrent list and is legislated upon.
“In regards to the sights from the Law Ministry, you could do,Inch Mr Naidu stated. In answer a question, Mr Naidu stated the legislation wouldn’t encroach upon the privileges from the states.
Passage of real estate Regulation and Development Bill is important to safeguard the interests from the purchasers and retailers, the Minister stated.
The Union Cabinet been on December 2015 removed 20 changes towards the bill which seeks to manage transactions between purchasers and marketers of residential property projects by creating condition-level regulating government bodies.
Watching there could be no certification from the real estates, he stated real estate Bill was known towards the Standing Committee and so the Rajya Sabha had sent it towards the Choose Committee and it was now pending before Parliament.
In answer a question whether government is intending to make property certification online, Mr Naidu stated there is no such plans.
Source : IHP News Network