Maharashtra policies for real estate helping only a few: Fadnavis to CM Thackeray

By: |
December 27, 2020 6:28 PM

Devendra Fadnavis has written a letter to Maharashtra Chief Minister Uddhav Thackeray regarding government policies drafted to help the real estate sector.

Fadnavis said some developers may even have a windfall gain of more than Rs 2000 crores.

Devendra Fadnavis has written a letter to Maharashtra Chief Minister Uddhav Thackeray regarding government policies drafted to help the real estate sector. The opposition leader in Maharashtra Assembly said the state government policies rolled out to help the real estate sector and mitigate the impact caused by COVID-19 pandemic are only helping a few real estate developers to gain. “Govt policies for helping the real estate sector to mitigate COVID effects are aimed at and are resulting in windfall gains to a few real estate developers,” Fadnavis said in his letter.

Further, Fadnavis taking a dig at Thackeray mentioned in his letter that he is purposefully writing this letter to him in English and asked him to act on it. According to Fadnavis, Thackeray is being made aware of this and if in case there is no corrective action taken by him, Fadnavis will be “compelled to file a PIL in the Bombay High court.” He added that for any more information, Fadnavis can be contacted.

According to the letter, a committee chaired by Deepak Parekh (co-founder of HDFC Ltd.) was formed where suggestions were made to revive the beleaguered real estate sector. But the suggestions that were recommended are being implemented selectively and the real effect of these recommendations are not considered by the government. “Certain vested interests have colluded for the purpose of extending benefits to a few handful parties at the expense of State exchequer,” Fadnavis said adding that the state government’s action should be independent of “vice of arbitrariness” and comply with Article 14 of the Indian Constitution.

While he agreed that rationalisation of stamp duty rates along with ready reckoner rates were needed but it should not be just beneficial to a few real estate developers. As per him, some developers may even have a windfall gain of more than Rs 2000 crores. He later said that he is hoping that the Shiv Sena led Maharashtra government will not let resources be exploited and take corrective action.

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