Govt. is prepared to Plug loopholes in Real Estate Regulations : Tomar at NAREDCO

Housing & Urban Affairs, Rural Development, Panchayati Raj and Drinking Water & Sanitation, Mr. Narender Singh Tomar on Monday reiterated the commitment of the Hon’ble Prime Minister to provide “Housing For All” by 2022, He then assured the real estate sector that all there legitimate grievances relating to policy formulations would be addressed to the best of their satisfaction and in an equitable and fair manner.

Addressing the 14th National Convention of NAREDCO here today, the Minister said that development of real estate and affordable housing is the collective responsibility of all stakeholders in it and, therefore, if the government is required to still better the policies regulating this sector, the Govt will not hesitate in playing its effective role as the government of the day is committed to fulfill the affordable housing dream of the Prime Minister Mr. Modi.

“The glitches and loopholes if at all prevail in the real estate sector despite the fact that the government has already brought out the friendly regulations, keeping aside earlier hostile clauses in real estate policies to ensure equitable growth in the real estate and construction sector, it will still be opened for improvements”, said Mr. Tomar.

He called upon the industry that with the latest real estate regulations, majority of states have begun to put in place new real estate norms, the registration with them for the new projects is essential and therefore, with these new additions, the real estate sector should by and large be agreeable to.

The new norms are quite fair and justified and address the issues of all stakeholders for a win-win situation so the government expects that the growth of the sector would multiply and create desired employment, pointed out the Minister.

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Among others who were present on the occasion consisted of Chairman, NAREDCO, Mr. Rajeev Talwar, its President, Mr. Parveen Jain, Mr. Niranjan Hiranandani, and other stalwarts of the industry.