Maha Housing Regulatory Bill may breed corruption, CREDAI.

Posted on : 13 Apr, 2012


Mumbai: The Maharashtra Housing Regulatory Bill, once becomes an act, has the potential hazard of bringing in corrupt practices and “unnecessary interference in real estate business”, according to Mr. Lalit Kumar Jain, national president, CREDAI (confederation of real estate developers’ associations of India).
“Any kind of forced checks could lead to corruption as we have been witnessing in India,” he said.
Mr. Jain suggested that the proposed housing regulator should have comprehensive powers to direct planning authorities and other approving authorities to ensure that approvals are given in time.
CREDAI has been pointing out that most delays in executing various real estate projects in Maharashtra, particularly in Mumbai, are due to delays in issuing various NOCs and CCs even after sanctioning projects.
Unfortunately the developer community is blamed as the black sheep of business though they are actually the victims of a corrupt system, he added and expressed the hope that the regulator would have powers to check malpractices and ensure transparency in deals.



                                                                                                                    SOURCE: Accommodation Times Bureau.

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