#RealtyNewsRoundup: Haryana & Himachal Pradesh To Soon Notify RERA Rules

Following the footsteps of Kerala, Maharashtra, Madhya Pradesh, and Rajasthan, the Haryana government will now notify the Haryana Real Estate Regulation Authority (HRERA) Act 2016 by July 15. The Real Estate Regulation Authority (RERA) Act was brought to force on June 1 by the Union government.

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Another state that will notify the implementation of the Real Estate (Regulation and Development) Act, 2016, is Himachal Pradesh. The state government will notify the Act in the coming monsoon session. Under the Act, all registered promoters would have to furnish details of their enterprise, background, work experience, track record, number of years of experience of the promoter along with details of litigation in the past five years.

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In a move to boost private investment in infrastructure, Amitabh Kant, CEO, Niti Aayog has told the media that government might soon come out with major policy interventions. These interventions are expected to revive investments in the sector as state spending alone would be inadequate. Some of the major steps would include steps a dedicated financial institution for big-ticket projects, fast-track dispute resolution and flexible structuring of public-private-partnership (PPP) projects.

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In a request posed to the lieutenant governor of the national capital, the Delhi assembly has passed a resolution to grant ownership rights to families, which were allotted land in the 1970s and 80s. According to the reports, small pieces of land was allotted to poor families, including Dalits and widows almost four decades ago but have not been given ownership rights yet.

Source: Media reports