Clear pending Real Estate Regulatory Bill

Clear pending Real Estate Regulatory Bill with other administrative reforms, says Ravi Saund

We are hopeful that Union Budget 2013 will bring in some necessary steps that will help us achieve new heights of growth. In our opinion an ideal budget should look after the concerns of other industries for an overall economic development. Real Estate being one of the major contributors to India’s GDP, has been awaiting the ‘Industry’ status.

We hope this issue is addressed in this year’s union budget. We are also expecting government to give clearances to pending proposals like Real Estate Regulatory Bill coupled with some administrative reforms, which will prove radical for the sector. Some cuts in policy rates will offer an impetus to the sector by releasing more money in the market thus lowering the interest rates. This will surge in more funds in the sector leading to more infrastructure development.

My wishlist includes:

Real Estate Regulatory Authority” for introducing transparency

Cut in Policy rates leading to lower interest rates

Increase tax benefits on residential housing loans

Improved fund flow to infrastructure sector

Investment friendly policies

Enact the Model Real Estate (Regulations & development) Act

Introduction of Single Window Clearance System

Standard Operating Procedures for funding in Real Estate

Ravi Saund is COO of CHD Developers