CREDAI urged the Bengal government to repeal urban land ceiling act. The apex body of real estate developers said that this has become a serious issue which blocks the real estate constructions.
Real estate developers’ confederation – CREDAI harshly blamed the Mamata Banerjee government to implement Urban Land (Ceiling and Regulation) Act (ULCA) in Bengal. The apex real estate developers’ confederation pointed out that Bengal is one of the few Indian states to have ULCA.
As per the opinion of real estate developers the ULCA highly hinders the construction of real estate projects. CREDAI’s Mr. Lalit Kumar Jain said that it is a surprise to know that Bengal still holds on urban land ceiling act. He continued that the entire country has got rid of it.
He also pointed to the stability of prices and more supply in those states which has no such urban land ceiling act. Mr. Jain added that land being a state- subject, the state government should bring reforms here. Only by removing the urban land ceiling act the state will have real estate development.
The CREDAI president was talking on the occasion of a three-day conclave on urban infrastructure development in Bengal. He commented right after the comment of Partha Chatterjee, state Industry Minister, who said this was “no issue.” Mr. Chatterjee while addressing the conference said that there was no land issue in Kolkata.
CREDAI’s all India President Mr. Lalit Kumar Jain said to the media persons that the state should increase the floor area ratio. He said that only by increasing the floor area ratio- FAR – the real estate builders will be able to build taller buildings. The construction of tall buildings has become a necessary to meet the higher demand for the space.
As per his opinion the floor area ratio should be revised to 5. The present floor area ratio is only 1.5 to 3. This lower floor area ratio does not support the construction of tall residential buildings.
On the same occasion he demanded the rationing of tax policies of the state. He proposed the lowering of taxes to foster real estate development in the state.
In her reply to the problems raised by the real estate developers, Bengal Chief Minister Mamata Banerjee said that the government would see to the problems of real estate developers of the state. She said that she would constitute a task force to find out their problems and grievances. She said that the task force will be responsible to report about urban infrastructure.