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Editor’s Note

palash_royLast month we had to stop the issue after it went for print, and we somehow managed to carry the news, albeit in a briefest manner. I am talking
about Parliament’s nod to the Real Estate (Regulation and Development) Bill. Across the sector people have welcomed the move, though there are some reservations and discontent about some part of the Bill, which is set to become an Act now.

There are some grey areas as well, but overall there is a euphoria post this development. But we would be fooling ourselves if we expect it to be a magic wand, which would cure all the ills prevalent in the sector. We have a stock market regulator which has taken decades to evolve and emerge as a strong monitoring and enforcement body. Despite having a very strong banking regulator, we have seen huge irregularities there in the past. It is very natural that real estate regulator too would take time to shape itself as a strong regulator, but there’s no denying the fact that
this is a well taken step in the right direction.

One long pending demand of the developers which has been missing in the RERA, will now be met in the national Capital. The Union Government has made single- window clearances for construction projects in Delhi a reality. It is incorporated in the new building bylaws released by Union Housing and Urban Development Minister Venkaiah Naidu. The bylaws were revised after over 30 years. Earlier in the month,
the minister also released model building bylaws, which would act as a model for all the states when they make their own building bylaws – another welcome step by the Central Government.

Yet more has happened on policy front for the real estate sector in the past one month. The Union  Cabinet on March 23 approved an upgraded rural housing scheme which seeks to build one-crore pucca houses over the next three years. About a year back, GDA (Ghaziabad Development
Authority) had a new chief – Vijay Kumar Yadav took over as the Vice-chairman of the Authority. While assuming office, Yadav had said his top priority would be to make the city world-class. We caught up with Yadav for an exclusive chat and began by asking how much of what he said has been already achieved? The V-C was candid enough to speak out his mind and elaborate on his actions. He said for a world-class city, urban infrastructure should top the priority list, and said in the coming six-seven months some of the ongoing projects would be complete, which would
make a huge difference to the city.

In our Developerspeak section, Manju Gaur, Director, Gaursons, writes about the inauguration of the grand Radha Kishan temple in Gaur City in Greater Noida (West). Pacific Group, more known for its two shopping malls in Delhi-NCR, is quietly creating waves in the residential sector as well. Speaking to Realty & More, Group’s ED Abhishek Bansal details about the three residential projects which can be said, are doing extremely well, considering the present scenario.

Bansal also reveals his future plans to R&M. Apart from all the news and analysis, the issue also contains the regular reads. Home loan rates of various lenders, property rates of various localities across cities, new residential launches in various cities, Vastu expert advice this time on salons and parlours, and of course your monthly horoscope by bejan daruwala.