Not very long ago,the prime minister of India meant nothing to him.He was the supreme authority and Manmohan Singh knew that very well and never dared to question him.He visited the parliament occasionally and never bothered to participate in any kind of discussion.Even the union cabinet ministers had to wait for months to get an audience with him.But this man from Gujrat,Narendra Modi, destroyed all that.The massive electoral defeat changed his world upside down.Now Rahul Gandhi has to go here,there and everywhere.He lands at every spot wherever he can gather some limelight.For these reasons Rahul Gandhi hates Narendra Modi So much. He has become staunch anti Hindu and anti India now.Otherwise he would have never supported the traitors.
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Real Estate (Regulation and Development) Bill, 2015, as reported by the Select Committee of Rajya Sabha. The Bill will now be taken up for consideration and passing by the Parliament.
The Real Estate (Regulation and Development) Bill is a pioneering initiative to protect the interest of consumers, promote fair play in real estate transactions and to ensure timely execution of projects.
The Bill provides uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real estate sector. It will boost domestic and foreign investment in the Real Estate sector and help achieve the objective of Government of India to provide ‘Housing for All’ by enhanced private participation.
The Bill ensures mandatory disclosure by promoters to the customers through registration of real estate projects as well as real estate agents with the Real Estate Regulatory Authority. The Bill aims at restoring confidence of consumers in the real estate sector; by institutionalizing transparency and accountability in real estate and housing transactions which will further enable the sector to access capital and financial markets. The Bill will promote orderly growth through consequent efficient project execution, professionalism and standardization.
The salient features of the Bill are as under:
1. Applicable both for commercial and residential real estate projects.
2. Establishment of ‘Real Estate Regulatory Authority’ in States/UTs to regulate real estate transactions.
3. Registration of real estate projects and real estate agents with the Authority.
4. Mandatory disclosure of all registered projects, including details of the promoter, project, layout plan, land status, approvals, agreements along with details of real estate agents, contractors, architect, structural engineer etc.
5. Deposit of specified amount in a separate bank account to cover the construction cost of the project for timely completion of the project.
6. Establishment of fast track dispute resolution mechanisms for settlement of disputes through adjudicating officers and Appellate Tribunal.
7. Civil courts jurisdiction prohibited from taking up matters defined in Bill, however, consumer court allowed to hear real estate matters.
8. Promoters barred from changing plans and design without consent of consumers.
9. Provision of Appropriate Government to make rules for the matters specified in the Bill, and the Regulatory Authority to make necessary regulations.