NEW DELHI: All states and the urban development ministry have got time till November 27 to notify the regulations for real estate sector. Till now rules have been notified by Uttar Pradesh and Gujarat, and housing ministry has notified norms for five Union Territories that have no legislatures.
Housing ministry had approached the parliamentary Committee on Subordinate Legislation on October 27 to extend the deadline since most of the states were unlikely to meet the target. Sources said the panel has sanctioned one month’s grace period. If states still fail to meet this time line, Centre can approach for another extension.
“But if the time line is extended again and again, home buyers can file PIL and in that case states will be responsible,” said a government source. He added that urban development ministry, which has been tasked to frame the rules for Delhi is likely to come out with the draft norms soon so that it can notify the final rules by this month end.
A few months back, Prime Minister Narendra Modi had raised concern over the delay in making of rules after laws are passed by the Parliament. He had asked secretaries and ministers to ensure that the rules are notified quickly so that people get the benefit of reforms.
Credits ET Realty