Mumbai: The Real Estate (Regulation and Development) Bill that has already brought hopes to home buyers has not yet been passed by the Parliament. Builder Association of India (BAI) has welcomed the Center’s decision of bringing the bill to the forefront and has expressed hopes of it being passed by the Parliament in the Monsoon Session.BAI believes that since the real estate industry is such an easy industry to enter and has no control such as regulation or norms for registration, it thrives in fake developers because anyone even with dubious past records can become a developer. These developers are the one that are earning the real estate industry a bad name. Therefore the system must immediately be regularized.BAI General Secretary Anand Gupta said that the bill must include prequalification and registration as criteria for registration as real estate developer. He also added, “The responsibilities of the various stake holders like developer, local self governments, state government and the Centre should be very clearly defined and all should abide by a predefined time-bound programme for the completion of project.”In India housing projects are often hindered by the process of acquiring government approvals, title issues and project finance. To launch any housing project the real estate developer needs at least 55 approvals from various departments of local, state and central government bodies. This takes at least 15 to 24 months. If the bill binds a time frame for housing projects to be completed then it may prove to be a greater challenge for real estate developers. займ на карту без отказов круглосуточновзять кредит онлайн