CREDAI plans to request amendments to the Real Estate Bill from the Central Government, fearing increased housing costs and discouragement for smaller developers.
The Land Acquisition Bill, after several amendments including a 50% compensation for landowners, has received consensus from all parties. However, developers and industry experts fear it will adversely impact the affordable housing sector.
The all-party meet failed to reach a consensus on the land acquisition bill, impacting farmers awaiting compensation and delaying infrastructure projects. Opposition parties strongly opposed the bill, despite government efforts to expedite its passage for economic boost.
CREDAI urges Parliament for consumer-friendly real estate reforms, citing stalled projects and the need for "Home for All." They criticize the one-sided regulatory bill and suggest a single-window clearance system.