The upcoming elections may bring some relief for a common man who dreams of buying a home, say industry experts. Vinod Sampat, advocate said that there are three very important things that the government should focus on to help a common man buy a house in Mumbai — proper infrastructure, reasonable ready reckoner rates and reduction of stamp duty. “A developer constructs a building after getting a nod from the government. The government knows well in advance about the new project, and hence they should work on upgrading the infrastructure first. The roads are getting congested, many new buildings are coming up and many of them are leading to traffic chaos. The government should think on increasing the mandatory 15% open space (RG/PG). Only proper infrastructure can help us have a better city,” said Sampat. Sampat suggests that the government should work on making ready reckoner rates realistic. “The ready reckoner rates aren’t realistic, and the rates do not match the exact rates. The stamp duty is charged based on the ready reckoner rates. Only when the prices become real and are close to the existing rates, will there be further transparency.” He further added that stamp duty needed to be reduced, as it stands at 6% in Mumbai today, which includes 5% stamp duty and 1% cess. Sampat said that the hiked stamp duty means further burden on home buyer. According to Ramesh Prabhu, chairman of Maharashtra Societies Welfare Association, the government should think and act for the stuck redevelopment projects. “There are many stalled projects, the government should find a way out, may be by concessions and reducing premiums will they be able to give a push to redevelopment projects stuck right now,” he said. Secondly, Prabhu said that the most important thing is MahaRERA doesn’t wholly cover the existing members of redevelopment projects. “The government should come out with a wholesome legislation that will cover the existing tenants. There are cases where MahaRERA is listening to the members of redevelopment project but there is need for a broader approach.” Reach out to us with your suggestions at manifesto@dnaindia.net

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