Mar 15 2016 | Realty Zone

Mehul Thakur, Director, Viva Homes

The Real Estate bill is the need of the hour and is in favour of both, customers as well as developers. Provisions like entry of private players into the affordable housing segment and subsidizing of housing loans is a ray of fresh hope for many developers and customers. We expect the bill to renew investor confidence and create more opportunities in the sector. The passing of this bill will help the government in achieving Prime Minister Narendra Modi’s target of ‘Housing for All’ by 2022. Setting up Real Estate Regulatory Authority (RERA) will bring in more transparency and maturity in the industry and provisions like single window clearances will help to fasten project constructions. While enactment of the law is the first step. We hope that the government also brings in reforms in the administrative process.