Chief Minister Prithvi Raj Chauhan has written a letter to Union Minister of Housing and Urban Poverty Alleviation (HUPA) Girija Vyas regarding the Presidential nod for Maharashtra Housing (Regulation and Development) Bill, 2012. Chavan is probing to bring Bill in to effect soon as possible. State legislature passed the Bill sixteen months before and is now waiting for President Pranab Mukherjee’s assent.
After the recent case of Campa Cola Compound, Chavan finds that it is very necessary to have regulator for the housing and real estate sector to prevent violations. Chavan said, “Developers of the Campa Cola Compound has violated the rules of Brihanmumbai Municipal Corporation. The Supreme Court order on the matter and the campaign undertaken by Campa Cola residents has made clear the absolute need for a regulator in this industry.”
As per Chavan, The Maharashtra Housing (Regulation and Development) Act, 2012, is a comprehensive statute, which seeks to address specific issues by removing information asymmetry, ensuring full disclosure by promoters or developers and compliance of agreed terms and conditions, while registering, monitoring and supervising housing projects through the housing regulator. Further, the chief minister said that state law ensures transparency and discipline in transactions of flats, and putting a check on abuses and malpractices. States are entitled to enact their law as per the section 78 of the Centre’s Real Estate (Regulation & Development) Bill, 2013.