Madam Speaker, I
would like to request the hon. Members to pay a special attention to
this Bill because this Bill is the need of the hour. The request has come
from various quarters for all these years. This is an issue, which is
pending for long. We have been discussing about some regulation in the
Real Estate for the last 11 years because all the buyers across the country are
agitated rightly and they are not getting adequate redressal system as
per the previous arrangement.
So, keeping that in
mind, during the UPA regime, a Bill was brought and the Bill was referred to
the Standing Committee. The Standing Committee, in its collective wisdom, has
made certain recommendations. Out of 30 and odd recommendations, 22-23
recommendations were accepted. In between, there was a change of Government and
the Government140 that came has brought it in the form
of a new Bill. The Bill has gone to the Rajya Sabha160
because it has originated from there and the Rajya Sabha, in its wisdom,
had again referred this matter to the Select Committee. The Bill, which was
approved by the Standing Committee consisting of Lok Sabha and Rajya Sabha
Members, was again referred to the Select Committee of Rajya Sabha. I have
agreed simply because I want the Bill finally to be passed at the end of
the day. So, we have agreed and the Select Committee of the other House has
done an excellent job. They have made their own recommendations and sent them
back to the Rajya Sabha. Now, Madam, I am very happy to share with the House
that the Bill was debated, discussed and decided in the280
Rajya Sabha almost unanimously with one Party, namely, AIADMK having raised a
fundamental issue saying that the Parliament has no jurisdiction on this issue because
it is a matter concerning the local bodies at the State level. We discussed
about320 that matter within ourselves in the Department
also, and I have referred the matter to the Law Ministry. The Law
Ministry has opined that the Parliament has a jurisdiction. Subsequently, I
referred the matter to the Attorney General of India. The Attorney
General also, after careful study, has sent it back saying that the Parliament
of India has the jurisdiction to pass such a legislation in the larger
interest of the people. Keeping that in mind, the present Bill has been brought
in and in the Rajya Sabha it was approved by the support of all the Parties. I
am420 very happy to state it.
Madam, the purpose
of the Bill is that it is not only going to make consumer the king, but bring
in much needed regulation and transparency to the people who are involved in
this sector. This Bill seeks to create a set of rights and obligations for both
the consumers as well as developers.480 Secondly, this Bill
seeks to encourage both of them to live up to the expectations of each
other as per the agreement entered into by both of them. When you purchase a
house, you enter into an agreement. If one of the parties fails to
perform the obligation, then the provisions of the Bill will come into
operation. If they mutually agree upon, nobody is going to intervene.
Unfortunately, what is happening is that the buyers or the consumers are
always560 at the receiving end. In India ,
the law of torts is very weak as compared to other Western countries. We do not
have such provisions to enforce the law. Also, in India ,
the issues take a long time. In courts, we have such a system that delay is
being caused. I am not here to accuse the judiciary, but the judicial system in
India today is
such that we are not able to get speedy justice. So, the hapless
consumers640 should not be left in the lurch. That is
what has really stirred my conscience that we must bring this Bill at the
earliest.
This Bill seeks to
establish a regulatory authority with which the developer will register the
project to be launched. If ‘x’ wants to launch a project, he has to register it
with the regulatory authority.700 It is that simple.
Secondly, while doing so, they have to declare all project related information,
including the details of developers, status of land, various approvals, project
schedule, information regarding architects and structural engineers, etc., so
that there is transparency and people get satisfied when they come to know who
the architects are, who the developers are, who the engineers are, and what is
the size of the project. All these things will be in public domain. Thirdly,
the disclosure helps the home buyers to make an informed choice.
Apart from
promoting fair play in real estate transactions, it also aims800
ensuring timely execution of the projects – timely execution is a major issue;
people do not respect time and as a result, when there is cost escalation, the
buyer or the consumer is always put to loss. Keeping that in840
mind, it ensures timely execution of the projects. The Bill seeks to provide
uniform regulatory environment and orderly growth of the real estate sector. We
want the real estate sector to grow. As the Minister of Urban Development, I
have no hesitation in saying that. We feel that the real estate developers are
also partners in development. We do not consider them as untouchables. Some
people have the habit of condemning the private sector. We, who are in the Government,
do not believe that private sector is bad. Public and private partnership is
the need of the hour. That is the way forward. We have seen the other
methods in all these years, then we have learned by experience and that is
why960 we have come to this conclusion. Display of
unanimity and the spirit of give and take by980 both the
Government and the Opposition enabled the passage of this crucial Bill
in Rajya Sabha on 10th March, and the stage is now set for receiving the Lok
Sabha approval. The manner in which it was passed in the Upper House
clearly highlights that the highest Legislature of the land could do it to
further the aspirations of the people. The spirit of camaraderie demonstrated
in the Upper House underlined what we could do collectively for the betterment
of the lives of the people.
The Rajya Sabha
witnessed the rare occasion of the Opposition and the Treasury Benches
giving credit to each other for introducing and piloting this Bill. I have
no hesitation in saying that it was
a Bill brought during the earlier regime, by the earlier Minister. Then,
certain improvements have been made in that Bill by both the1120
Standing Committee and the Select Committee. Finally, now, the time has come
during this Government that we brought this Bill and I am putting it
before the House. The credit for the significant improvements in the Bill
goes to the work done by the Standing Committee and it also goes to the Select
Committee, the ideas they have exchanged among themselves and the conclusions
they have reached has really helped me to come to some conclusion.
Normally, in many of the cases, we come to Lok Sabha and people say, “You have
majority here, you just got it passed and all that.” But we have gone to Rajya
Sabha because the issue was pending there.
This morning also I
got a message saying, “Please preserve the example of Rajya Sabha and follow it
also.” I have no problem at all.1260 The Government has
nothing to hide. Whether it is Lok Sabha or Rajya Sabha, both of them
have been given1280 their respective jurisdictions and
responsibilities. We should work together. Both of them together are called the
Parliament of India. If we do not perform our responsibilities in Lok Sabha and
Rajya Sabha, then it will go to parlok Sabha. This is what has
happened to many of the Bills earlier. I do not want that to happen. If you
discuss, debate and decide, good things will emerge and good ideas will come. In
spite of our experience, nobody is perfect. After discussion, some saner points
or good points have emerged, and the Government had no hesitation at any
point of time to take those suggestions forward. I was moved by the
response of the public on social media also,1400 after the
Rajya Sabha cleared the Bill. There was so much appreciation from across the
country, from different parts of the country, hailing the passage of the
Bill in Rajya Sabha. Many of them posted that they rejoiced at that historic1440
moment and some were overwhelmed with emotions. I understand such reactions as
cries of joy after having gone through the pain of waiting for long to get
their due and finally, the moment of restoring order in the real estate sector
becoming a reality. In this country, a lot of consumers have been taken for a
ride by unscrupulous elements. I am not trying to damn the entire real estate
sector. There are great people; there are good people; there are reputed
builders and architects also who have constructed many buildings across the
country.1534
