Wednesday, May 16, 2012


MCC Chamber of Commerce & Industry


MCCI organized at an Interactive Session with Shri Debashis Sen, Principal Secretary, Urban Development, Town & Planning Department and CMD, W.B.HIDCO on ‘Real Estate Development in West Bengal: New Dimensions’ today at Chamber Hall.
Shri Deepak Jalan, Sr Vice President, MCCI highlighted the requirement of repealing ULC& R Act 1976 (Urban Land Ceiling & Regulation Act) by the State in line with Union and many other States in India . The Chamber also requested to allot a plot in New Town where it may build an Integrated Campus to serve the Industry better.
Shri Sen hailed 4P ( Public Private People Partnership) mode of development in the State – a paradigm shift from 3Ps . ‘While constructing for the rich , keep something for the poor’ is the State Government Mantra. Mandatory reservation of 25% for EWS (Economically Weaker Sections) or LIG (Lower Income Group) while developing any land exceeding 5000m2 is not being followed by all the developers. To address the issue of dearth of land in the State, a ceiling of 24 Acres of on acquiring land has been imposed on any real estate project barring few exceptions. ‘Planned Urbanization’ is being advocated by the State to curb ‘quick profit making and unplanned development’ of the cities. The State has already initiated this move in ‘Raghunathpur in Purulia District’.
‘Real Estate Regulation and Development Act, 2011 ( which is yet to be enacted) would provide a parity between the Developers and the housing aspirants enabling the Government to benchmark it across the country. The State is still collecting facts to consider repealing of the ULC&R Act .
‘Virtual Land’ is the uber new concept in Real Estate lexicon floated by the State Government by raising the FAR (Floor Area Ratio) from 5.9. to world standard of 1.5-2. 

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