Maharashtra set for India's first housing regulator

Maharashtra became the first state in the country today to approve a regulator for the housing sector which would have sweeping powers, including the authority to fix prices of houses, in a bid to control the sector.

The Maharashtra Housing Sector Regulatory Commission Act 2008, when passed by the state Assembly, will give the regulator powers of a civil court to settle disputes, regulate builders and have a separate budget to function independently, besides allowing it to set prices of flats built for the poor and middle classes by government agencies and private builders.

The formation of the highly publicised commission and introduction of the Bill in the ongoing session of the Assembly was cleared by the Vilasrao Deshmukh cabinet on Thursday, top government sources told The Indian Express. The decision follows a recommendation by the Law Commission to enact a law and form a commission to deal with contentious issues in the housing sector.

The commission will have three members, including a chairperson, who will be a well-known housing sector expert. It will also have an advisory committee of up to 21 members who will be experts from areas related to housing, sources said.

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