How Modi plans to protect home-buyers

Observing that the image of builders is ‘bad’, Prime Minister Narendra Modi today promised to protect the home-buyers and said a bill in this regard will be pushed during the upcoming Monsoon session of Parliament.

He rued that there is a lack of holistic vision about urban planning and said expansion is driven not by the administrators of a city, but by property developers.

"In our country, wittingly or unwittingly, the image of builder lobby is bad," Modi said while launching three flagship schemes for urban development across the nation.

Asserting that his government is sensitive to consumer protection, he said, "A poor person invests all his savings for a house, but when he is cheated, he loses everything. “To protect such poor and small consumers, a bill has been brought to Parliament and effort will be made to get it passed in the upcoming session."

The Monsoon session is set to be convened from July 21 for three weeks.

Government has introduced the Real Estate (Regulation and Development) Bill, 2013 in Rajya Sabha.

It seeks to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building in an efficient and transparent manner and to protect the interest of consumers.

Noting that possessing a house is a turning point in the lives of poor, the Prime Minister said the government's effort is to not just provide a house, but to provide the right environment to live life to the fullest.

Through Atal Mission for Rejuvenation and Urban Transformation scheme which was launched by him on Thursday, Modi said the aim of the government is to give cities themselves the chance to plan their future growth.

Along with AMRUT scheme, the Prime Minister also launched Smart Cities Mission and Housing for All (Urban) programmes.

"We want development. At the same time, we want to keep in mind how to meet the needs of common people," he said.      

Under the 'Housing for All' mission in the urban areas, 2 crore (20 million) houses would be built over the next seven years for the economically weaker sections and low income groups.

Modi also gave a glimpse of a proposed smart city, which will have provisions like technology, efficient transportation, energy efficiency, walk-to-work, cycling etc.

Speaking on the occasion, Urban Development Minister Venkaiah Naidu said: "I am happy to state that this mission would ensure house ownership for 2 crore women either fully or jointly with their husbands".

The image is used for representational purpose only; Photograph: Reuters