HDFC chairman Deepak Parekh has urged the government to set up a special commission for properties in litigation under the Urban Land Ceiling and Regulation Act.
There are many developable properties facing litigation under the Act in urban areas, says Parekh. Considering the lack of housing space in cities, the government should take a positive approach by doing away with archaic laws that are hindering housing development.
Parekh expressed these views in HDFC?s annual report for 2010-11.
Among the five things that need to be done, the HDFC chairman has listed a single-ministry dealing with urbanisation and housing, streamlining all government housing finance programme, incentives for affordable housing projects that cost R10-15 lakh and compulsory implementation of e-auctions for land transactions.
Parekh has said growing urbanisation is inevitable and taking these baby steps will go a long way in alleviating housing problems in India.