Real Estate Regulation Bill likely to be tabled in Parliament's next session

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SME Times News Bureau | 09 Oct, 2015
Union Cabinet Minister, M. Venkaiah Naidu, Thursday said that the Real Estate Regulation Bill, which has received the nod from the Parliament Select Committee, will be posed to the Cabinet shortly.

"I propose to table it (Real Estate Regulation Bill) in the next session of Parliament," stated M. Venkaiah Naidu, Minister of Urban Development, Housing and Urban Poverty Alleviation and Parliamentary Affairs, in New Delhi at FICCI's Smart Cities Summit 2015 on the theme '100 Smart Cities: Mission Transform-Nation'.

Naidu said that the government is already in the process of accelerating reforms and transforming India. A number of crucial Bills including that for introduction of GST, raising FDI limit in insurance and enhancing employment generation (through amendments in Factories Act and Apprentices Act) are expected to be taken up for approval in the next session of Parliament.

"These Bills are important from the perspective of spurring growth and employment, which is necessary for faster poverty reduction," he added.

Naidu said, "We have given time till December 15 this year to urban local bodies to submit their city level Smart City Plans. These plans will be evaluated in the second stage of City Challenge Competition for picking up the first batch of 20 cities based on rankings for financing during this financial year. We would like to announce these 20 selected cities based on merit alone in January and release funds."

He said that making smart cities is more than providing business and investment opportunities and required infrastructure. It is all about changing the ways of our thinking and acting for building cities that are for the people.

"We need cities that can sustain themselves through judicious use of precious and scarce natural resources ensuring ecological equilibrium. The task of building smart cities is no doubt challenging but can be achieved if all stakeholders rise to the occasion with innovative thinking, planning and execution," he said and added that next year 40 cities would be selected on the similar lines, followed by another 40 cities in the subsequent year.

Naidu said, "We in the Government are doing everything that we need to do. It is now time for industrial and trade bodies like FICCI and others to do your bit in the larger interest of our country."

He stated, "The Smart City Mission has generated as much interest abroad as in our country. Global companies from a large number of foreign countries have participated in the bidding process for selection of these consultants. Companies from 14 countries –The US, Canada, United Kingdom, France, the Netherlands, Spain, Italy, Belgium, Norway, Japan, Singapore, Hong Kong, South Africa and Abu Dhabi have been selected for preparation of city level Smart City Plans for 42 Mission cities."

"Think of Ecorys Nederland BV of Netherlands coming forward and winning the bid to prepare Smart City Plan for Bhagalpur in Bihar, Tractebel Engineering SA of Belgium being associated with smart city plan of Dharmashala in Himachal Pradesh, Haskoning DHV Consulting of Netherland with the little known Dahod in Gujarat, Mott MacDonald of United Kingdom with Jaipur, Deloitte Touche Tohmastsu of Japan with Bidhannagar in West Bengal, Data World of South Africa with remote Namchi in Sikkim etc. A total of about 30 foreign companies are partnering 42 Mission cities in the task of preparation of smart city plans. This speaks for the global interest in our Smart City Mission," Naidu pointed out.