Realty bill to become reality in this very session: Naidu

28-1453976603-venkaiah-naiduUrban Development Minister Venkaiah Naidu is confident about the passage of the Real Estate Bill during the current Budget session of parliament itself.

“Real Estate Bill is sure to be a reality in this very Budget session. I am in talk with all stakeholders,” he said while informing domestic and global investors at the ‘Happening Haryana’ conclave in Gurgaon on March 7.

He confirmed that the law will be “regulation and not strangulation”. He said that nobody needs to worry except the fly-by-night operators.

The minister said that they are also working on ease of doing business and ease of approval and permission, and they have got positive signals from all the parties concerned.

The Real Estate (Regulation and Development) Bill, which was introduced in Rajya Sabha in 2013, aiming at protecting the interest of buyers and sellers, is pending clearance by parliament.

Last week, the Congress had requested Prime Minister Narendra Modi and Naidu, to pass the bill in the first leg of the Budget Session.

In December 2015, 20 amendments to the bill were cleared by the Cabinet, which focuses to regulate transaction between buyers and promoters of residential real estate projects by establishing state-level regulatory authorities.

Naidu also promised to assist Haryana in its infrastructure development.

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