Real estate bill sent to Rajya Sabha select committee

Bowing to strident opposition demands, the BJP-led National Democratic Alliance government on Wednesday sent the real estate bill to a select committee of the Rajya Sabha.

The 20-member committee, formed earlier in the day with representation from all parties, will submit its report by the first week of the next session of parliament.

Moving for the reference of the bill to the select committee, Parliamentary Affairs Minister M. Venkaiah Naidu said the government had brought the bill after wide consultations, as there was a perception that the bill was getting delayed.

"There was lot of criticism that this bill is getting delayed... Some people went to Supreme Court, which said decision should be taken in six weeks.

"Keeping that in mind, the government had brought the bill keeping in view the aim of housing for all. My colleagues wanted to refer the bill to a select committee so I accept the suggestion," Naidu said.

The members of the committee are: Anil Madhav Dave, Mansukh L. Mandaviya and Shamsher Singh Manhas from BJP; Shantaram Naik, M.V. Rajeev Gowda and Kumari Selja from Congress; Naresh Agrawal of SP; K.C. Tyagi of JD-U; Md. Nadimul Haque of Trinamool Congress; A.W. Rabi Bernard of AIADMK; Munquad Ali of BSP; Ritabrata Banerjee of CPI-M; A.U. Singh Deo of BJD; C.M. Ramesh and K.P. Ramalingam of TDP; Majeed Memon of NCP; Anil Desai of Shiv Sena; Naresh Gujral of Shiromani Akali Dal (SAD); Nazir Ahmed Laway of PDP; A.D. Kupendra Reddy of JD-S and independent member Rajeev Chandrasekhar.

The Real Estate (Regulation and Development) Bill, 2013, which aims at establishing a regulatory authority for the real estate sector, was deferred by the Rajya Sabha last week with opposition members insisting that it be sent to a select committee of the house.

On Tuesday again, members objected as the bill was listed in the day's business.

Parliamentary Affairs Minister M. Venkaiah Naidu then said he was consulting all parties and promised to come back to the house soon.

Congress vice president Rahul Gandhi on Saturday had accused the NDA government of bringing a "pro-builder" real estate bill, saying it dilutes all good provisions of the bill brought by the Congress government.

The bill seeks to regulate transactions between buyers and promoters of residential real estate projects. It also seeks to establish state-level regulatory authorities called Real Estate Regulatory Authorities (RERAs).

According to the bill's provisions, residential real estate projects, with some exceptions, would need to be registered with the RERAs.

Promoters also cannot book or offer these projects for sale without registering them. Real estate agents dealing in these projects would also need to register with the RERAs.