Heaping praise on the Real Estate Bill passed by the Lok Sabha, Parliamentary Affairs Minister Venkaiah Naidu on Tuesday said the Bill was a historical law, which will bring boom to the Real Estate Sector. "I'm very happy that the Real Estate Bill has become a reality. A long-standing desire and demand of the people to have a regulation for the Real Estate Sector keeping in view the Prime Minister's mission 'Housing for All' was realised," said the minister.
"We wanted to involve the private sector in a big way after holding exhaustive consultations with all stake holders, including state governments and consumer associations of various states, and other interested people. And, after going through the suggestions and comments offered by various sections of the media, the government had improved upon the earlier legislation proposed in 2011 and made a lot of changes," he said.
"The Bill was sent to the standing committee, and came back, but unfortunately it was not approved. So, since 2011, the Bill was practically pending. Through discussion with all political parties, our government was able to build a consensus, and as a result both Rajya Sabha and Lok Sabha approved the Real Estate Regulation and Development Bill," said Naidu, adding that this is not a regulation, and not strangulation.
He expressed hope that the Bill will be able to check exploitation by some unscrupulous operators. Reacting to All India Majlis-e-Ittehadul Muslimeen president Asaduddin Owaisi's comment, Naidu said, "Creating such a controversy is a perfect example of foolishness. 'Bharat Mata' is not a single person; she is our country, our mother. You should respect Bharat Mata, the way you respect (bandan) your mother."
"During the freedom struggle, our leaders gave slogan 'Vande Mataram' (mother we respect you), and opposing this is foolishness. His aim is to gain Muslim votes," he added.