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News Updates

Real Estate draft bill under preparation


Higher FSI planned


The Minister for Housing and Urban Poverty Alleviation (HUPA) Kumari Selja has said that with a view to protecting consumer interest on the one hand and to facilitate smooth and speedy urban construc- tion on the other the Ministry has prepared a draft bill titled Real Estate (Regulation and Development) Act.

She said the draft cabinet note has been circulated to all concerned Central Govern-

ment Departments/Ministries and draft Bill has also been forwarded to State Govern- ments for comments. Recently, a meeting with the State Min- isters dealing with the subject has been held. Based on all inputs so gathered, the bill would undergo modifications before it could be sent for approval of the Cabinet. After completing the process, the Government shall introduce the Bill in the Parliament.

The Steering Committee on Urbanisation has recommend- ed strategic densification of cities through various meas- ures including higher Floor Space Index (FSI). The Com- mittee has also recommended that additional FSI may be charged for and the revenue so generated may be ring-fenced for funding infrastructure pro- jects to sustain higher FSI.

The rationale for recommend- ing additional FSI by the Steer- ing Committee is that it allows efficient use of urban land which is a precious resource and it may also generate ad- ditional resources to Munici- pal government for better city management which would also benefit the consumer.

1000 km expressway approved

Under National Highways Development Project (NHDP) Phase VI, construction of 1,000km of expressway have been approved by the Govern- ment. Main criterion for selec- tion of expressway corridors has been the volume of the traffic on the corridors.

Vadodara-Mumbai Corridor (400 km) being the highest density corridor has been given priority. Other identi-


fied stretches include Delhi- Chandigarh (249km) on NH-1 & NH-22, Bangalore-Chennai (334km) on NH-4, Delhi-Jaipur (261km) on NH-8, Delhi- Meerut (66km) on NH-58, Kolkata-Dhanbad (277km) on NH-2, and Delhi-Agra (200km) on NH-2, out of which remain- ing 600 is km to be undertak- en based on outcome of pre- feasibility studies. Originally, it was targeted to award conces- sion by 2009-10. Delays have

been mainly on account of issues pertaining to consulta- tions with State Governments regarding finalisation of align- ment, as a result final feasibil- ity reports were delayed. Delhi- Jaipur expressway is also part of pre-feasibility studies. Pres- ently work relating to fixing the alignment of the expressway is going on, informed Dr. Tushar A. Chaudhary, the Minister of State for Road Transport & Highways in the Lok Sabha.

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