RERA to take effect in next three months, states Pawan Kumar Dhoot

Pawan Kumar Dhoot on Real Estate Regulatory AuthorityPawan Kumar Dhoot, Managing Director, Dhoot Group brings into view the conclusion process of Real Estate Regulatory Authority (RERA) as the Rules under the Act are expected to complete in next three months and would be soon formally enforceable. The Real Estate (Regulation & Development) Bill witnessed its leap during March 2016 when government showed a green flag to it by virtue of safeguarding the interests of investors and bringing stringency for regulating the sector. Since under the new law, a transparent regulatory mechanism would come into existence, additional investments are apprehended to improve the structure of the industry.

Pawan Kumar also contemplates urbanization together with ecological balance is now a necessity and shall be set to priority in order to progress and eradicate hard knocks. In consideration of which he appreciates the efforts of state governments for making the cities livable and sustainable, such as odd-even rule in Delhi or growing concern for ‘Deonar’ landfill in Mumbai. He also anticipates positive results from government’s vision of ‘Housing for All by 2022’ as states have been delegated powers for supporting the projects and guidelines for the same are drawn to close.

Delhi faces an affirmative move in form of revised building bye-laws which repose the environmental clearances along with building sanctioning process by lessening the paper work and approvals, while Maharashtra CM, Devendra Fadnavis, confirms about the work of CIDCO on urban agglomeration Navi Mumbai Airport Influence Notified Area (NAINA) and adds, “This city, larger than Mumbai, will house 22 smart cities in it. The first integrated development plan for the same is ready, while the second plan is under consideration”. The new missions include a huge corpus yet the betterment of society in forthcoming years is praised by Dhoot Group.

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