Shah backs RERA, urges green design
Union Home Minister Amit Shah on Friday asked real estate developers to incorporate green areas while designing their projects and also stressed on the need to provide skill training to labourers. Addressing realtors’ apex body Credai’s conclave the minister also highlighted that the real estate law RERA has made functioning of the developers smooth, besides protecting the interests of homebuyers.
Shah also noted that the reduction in GST rates on various building material would help reduce the cost. “The reduction on cost will help builders in providing more facilities to customers,” he said. Talking about RERA law, he said there were lot of apprehensions when the law was passed. “When we look back, nobody can deny that the RERA has played an important part in smooth functioning of developers,” he said. The Real Estate (Regulation and Development) Act (RERA) was passed in 2016 and the law came into full force in May 2017.
“When we take regulations as restrictions, then there is a problem. Regulations always help in increasing busi-ness opportunities, enha-ncing credibility and guarantees better facilities to customers,” he observed.Therefore, Shah said one should always welcome regulations. In a lighter vein, he said this is not an indication that the Government is bringing any new regulation, but added that even if it comes, the industry should take it in good spirit.
“Our Government always believes in dialogue. The objective of bringing new regulation is always making things simpler for both businesses and customers,” Shah said. The minister advised the industry to have dialogue with the Government instead of opposing the regulation if they have some initial problems. Shah noted that the Government has made changes in many laws, including the goods and services tax.
The RERA has brought structural reform in the real estate sector, he said, adding that this law has helped protect homebuyers’ interest, transparency in property deals and improving quality construction. Shah said the rapid urbanisation will provide huge opportunities to the real estate sector in the coming years.
