The Confederation of Real Estate Developers’ Associations of India (Credai) will ask the Central Government for the adjustments to the proposed Real Estate Bill. If the present norms are implemented it could lead to big problems for big boys and will also hike the user-end housing cost in the market.
The Realtor governing body said a regulatory body is must to punish offender but some provisions in the bill are unfairly lodged against the developers and would also scare away small time developers for the market.
The body wanted these major issues to be discussed when the Bill is passed in the Parliament in the winter session.
The Centre should engage the developers in the roll out of affordable housing policies. The body is keen to take part and contribute measures for the implementation of affordable houses in the country.
The major issue with some guidelines, the developers could end up being punished for a projects time period over which they have no control.
Credai suggested the ‘Residex’, a housing price pointer by the National Housing Bank, to get better parameters in order to be a more realistic reflection of the market.
The next meeting will open its doors to non-members and professionals such as real-estate consultants. The two-day event will also focus on sharing best practices with participants from Tier-II and Tier-III cities in the country.