Union Housing and Urban
Affairs Secretary Durga Shanker Mishra on Monday said the government is
working towards amending several provisions of the Real Estate
Regulations Act (RERA), which will benefit both developers and
Speaking at the 15th national convention of the
National Real Estate Development Council (NAREDCO), the official said
the Housing Ministry has received several inputs based on which the
government would make necessary amendments to the Act.
received very valuable inputs at these workshops. Based on these inputs,
we have felt that there is a need to bring about many changes in the
RERA Act. We will soon make relevant amendments in the law," Mishra
"We will initiate discussions again and make changes in the law wherever required to make it more effective," he added.
the draft Tenancy Law released last month, the Secretary said that many
people have built houses which they do not rent out, but once they get a
legal framework by way of a new tenancy law, many new business
opportunities would unfold.
NAREDCO President Niranjan
Hiranandani assured the association's complete support to the government
in its policy initiatives designed to further streamline the real