Maharashtra Government to announce Cluster Development Policy
The Minister of State for Housing, Slum Improvement, Housing Repairs and Reconstruction, Urban Land Ceiling, Industries, Mines, Transport, Environment and Parliamentary Affairs, Government of Maharashtra, Sachin Ahir, urged the real estate industry to ensure that their supply matches demand. Addressing CII ´The Real Estate Conclave,´ he added that time was right for the real estate industry to voice their opinions to facilitate the development of the industry. Talking about the difficulties arising out of the recently introduced Land Acquisition, Rehabilitation and Resettlement Bill 2013, he said that the state government has taken up the same with the Central Government and that both private and public sector organisations have been equally affected by the LARR. He also said that the state government of Maharashtra will soon announce a Cluster Development Policy pertaining to the redevelopment of old buildings and complexes in Mumbai. According to the Minister, the Real Estate Investment Trust, which is expected to be introduced shortly in India will prove to be very beneficial to developers for raising funds at reason-¡able costs and will aid the growth of the industry.