New Delhi: The real estate regulatory bill which aims at the consumer protection finally got passed on this Tuesday. In context to this regulatory bill, CREDAI expressed its views by saying that apart from the developers, the bill should cover all the authorities that is responsible for giving clearances to the projects.The chairman of CREDAI stated that the bill only focuses on the deceptive developer and instead of restraining the level of social threat the new bill may encourage corruption. According to him, the discretionary authorities to register or deregister and the final judgement by the officials may lead to corruption. He added that the situation is frightening because only those who know-how to handle the political influences will only be able to continue to exist in this sector.The CREDAI chairman insisted that the regulator should include all the stakeholders like the approving authorities, customers and the financial institutions that aids fund to the real estate projects. He said that the developer cannot be blamed for the delays in approvals or for finance. One of the provisions in the bill proposes that 70% of the amount should be deposited in the escrow account which was very impractical according to the chairman.CREDAI Chairman was convinced with the statement of Minister for Housing and Urban Poverty Alleviation that the Bill ensures organized growth of real estate sector, provides provision for a consistent regulatory environment to protect consumer interests and helps prompt adjudication of disputes.займ на карту без отказов круглосуточновзять кредит онлайн