Assocham Moots Multi-Agency Approach To Real Estate Issues

Assocham is in the process of giving final touches to a policy paper on the agenda for action in cases related to the development of real estate.

A multi-agency partnership approach in tackling such issues is the central theme behind the policy paper.

Among its major recommendations is the setting up of the National Real

Estate Development Council and the implementation of the National Housing Policy.

Key representatives of the Assocham Expert Committee on Urban Development met Veerendra Kumar, who is looking after the affairs of the ministry for urban development in the absence Union minister for urban development U Venkataswaralu, and briefed him on the recommendations.

 

The group has suggested that the Haryana model for encouraging private sector initiative in low density housing be adopted with necessary modifications after a complete review of the same.

The Construction Industry Development Council, an apex body established by the Planning Commission is an integral part of the group mulling over the issues.

The Construction Industry Development Council will be affiliated to the National Real

Estate Development Council and will serve as the interface or the real estate sector with the government.

An 18-member governing council including 3 non-voting members as government representatives will be drawn up from the different agencies and developers in the real estate sector.

Other recommendations include the establishment of an academy of real estate studies affiliated to state universities, providing financial support for research and development for building technology and production as well as initiating legal and institutional reforms in the real estate sector.

The group has also sought an enactment of a new legislation on the Rent Control law in Delhi, a new bill for constructions which have come up after 1996, setting guidelines for Rent Control law for the states as well as related issues like capital gains tax.