In India, real estate is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. The country was much in need of a regulatory body, which could monitor this sector uniformly. Hence, RERA and GST were launched.
Three members of Parliament (MPs) from Belgaum area-Prabhakar Kore, Suresh Angadi and Ramesh Katti-have urged the Centre to expand the existing airport in Belgaum to facilitate air travel to Mumbai, Goa and other domestic areas. The three MPs have recently met the Union Civil Aviation Minister Ajit Singh and put forth their demand. Ajit Singh also assured the MPs to initiate necessary steps to expand the airport at Sambra in Belgaum.
A Parliamentary panel has asked the Central Public Works Department (CPWD) to look into the matter of encroachment of government land. It expressed alarm that over 3.10 lakh sq m of government land. It asked the CPWD to fix responsibility on the officials concerned to do the needful to prevent encroachment of government land.
The Parliamentary Standing Committee on Transport has resented over Kerala government's disinterest in the road projects of National Highways Authority of India (NHAI) in the state. The Kerala Government is neither interested in funding road projects through the public-private-partnership mode, nor wants to take up projects, the Committee said. The Committee stated this in Delhi in the context of problems in acquiring land for construction and widening of roads.
The Real Estate Regulatory Bill, to be tabled in Parliament in the monsoon session, is expected to have some solutions for the worries of home buyers. So, does the Bill offer a smoother process of buying your dream home? Does it have a better grievance redressal mechanism? According to credit rating agency CRISIL, the Bill will improve buyers' confidence and boost demand for residential real estate.