Union Minister of Urban Development M Venkaiah Naidu has said the Real Estate (Regulation & Development) Bill, 2016 is aimed at protecting the interests of property buyers and intends to regulate the sector.
The bill is also expected to encourage additional investment in the sector following the establishment of a transparent regulatory mechanism, he said.
On Modi government’s vision of ‘Housing For All by 2022’, Naidu said that guidelines have been finalized and states have been given the powers to approve these projects. Financial sanctions, however, will come from the central government.
Under the revised building bye-laws for Delhi, the approval process has been made easier. The bye-laws also integrate environmental clearances with the building sanctioning process thereby reducing the number of documents needed to be submitted for building permits and completion and occupancy certificates.
The government is working on various programmes based on integrated planning and holistic development of urban areas through Smart City Mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Swachh Bharat Mission and Heritage City Development Mission (HRIDAY), he said.
Naidu said these missions will see urban areas being developed with basic infrastructure in 500 cities with a population of above 100,000 each.
There will be core infrastructure in 100 Smart Cities. The government will also promote the construction of 20 million houses for urban poor in all the 4,041 statutory cities and towns.