Mr. Getamber Anand, National President,
Confederation of Real Estate Developers' Associations of India (CREDAI), said, while
builders welcome the changes, the Bill should not be retrospective in nature as
it would lead to a lot of confusion & delays. Commercial real estate should
be kept out of the ambit of the regulator, he said.
"Also, they still have not included
sanctioning authorities in the Bill. So, where do we go if there is a delay in
getting approvals like as plinth certificates, occupancy certificate,
electricity and water connections, even after the project has taken off.
Without these permissions, even a completed project can not be offered for
possession to house buyers," Anand said.
These issues, he said, should be addressed so
that they do not become a pain point for the industry.
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