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State News

Dec 27, 2020

Opposition leader Devendra Fadnavis alleges, Maharashtra govt's policies for helping real estate would result into windfall gains to a few real estate developers

Leader of opposition in the State Legislative Assembly, Devendra Fadnavis has said that Maharashtra government's policies for helping real estate sector to mitigate COVID effect are aimed at and resulting into windfall gains to a few real estate developers.
Fadnavis in his letter to Maharashtra Chief Minister Uddhav Thackeray today, strongly demanded corrective actions by the State government and thereby not to allow the State resources to be exploited and squandered for private gains.
He alleged that the recommendations suggested by the State government formed committee for revival of the ailing real estate sector are being implemented selectively without considering the true effect of the same.
Fadnavis also claimed that co-founder of HDFC Ltd, Deepak Parekh led committee was formed for seeking suggestions to revive the ailing real estate sector due to the ongoing Corona pandemic. He however alleged, "the recommendations suggested by the said committee, it seems, are being implemented selectively without considering the real effect of the same."
He said, it seems certain vested interests have colluded for the purpose of extending benefits to a few handful parties at the expense of State exchequer, Fadnavis said.
The senior BJP leader came down heavily stating that the Parekh led committee analysed only a few projects of selected five developers to capture the effect of reduction of ready reckoner.
He added that it was found out that this will lead to a windfall gain of more than 2000 crores. He further informed that the selected developers have large chunks of land parcels in western suburbs by the sea, eastern suburbs, and city.
The former Chief Minister stated that if the policy of 50 per cent reduction comes into effect the midsize developers of Mumbai who undertake standalone redevelopment projects and SR Schemes would lose the competitive edge. He added that once SR schemes which are not financially viable would mitigate against the topmost priority of the government of Maharashtra to have a slum free Mumbai.
He said that he supported steps taken to boost the demand during pandemic and decisions like rationalisation of stamp duty rates, Ready reckoner rates and Premiums. However, he stated that under the garb of reduction for rationalisation, windfall gains cannot be allowed to a handful few.
He stated that the actions of the State government must be free from the vice of arbitrariness and must conform to Article 14 of the Constitution of India.
Fadnavis also said that it is surprising that on one hand the State government is not able to help our farmers and 'bara balutedars' and on other hand it is allowing windfall gains to private people.
He also wondered how the cabinet agenda, which is to be kept secret until a decision is taken, is in circulation with note and draft with all developers and also on social media. He alleged there are some individuals who are also doing some resource collection.

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