UTs Current Affairs
The Union Ministry of Housing has notified the Real Estate (Regulation and Development) (General) Rules, 2016, to be applicable to the five Union Territories.
These five Union Territories are Andaman & Nicobar Islands, Dadra & Nagar Haveli, Daman & Diu, Lakshadweep and Chandigarh.
- These Rules have been notified as stipulated in the Real Estate (Regulation & Development) Act, 2016 for ensuring timely completion of projects in five Union Territories
- As per provisions of the Act, Real Estate Regulatory Authorities (RERA) and Real Estate Appellate Tribunals (REAT) have to be set up by the end of April, 2017.
- The Rules provide for compounding of punishment with imprisonment for violation of the orders of REAT against payment of 10% of project cost in case of developers and 10% of the cost of property purchased in case of allottees and agents.
Real Estate (Regulation & Development) Act, 2016
The Real Estate Act that seeks to regulate the housing sector besides bringing transparency and ensuring timely completion of projects. The law is touted as a major reform measure to regulate the vast real estate sector. It requires registration of all projects with state-level Real Estate Regulatory Authorities to ensure protection of the interests of both buyers and builders.
Congress leader and former Chief Minister V. Vaithilingam was elected unopposed as the Speaker of the 14th Puducherry legislative Assembly.
Besides, pro-tem Speaker VP Shivakozhuthu was declared elected unopposed as the Deputy Speaker.
V. Vaithilingam had served Chief Minister of the Union Territory twice. For first time he was in office from 1991 to 1996 and for second time again from 2008-2011. He was the second youngest Chief Minister and the first Chief Minister of Puducherry to serve the full five-year term till date.
Earlier in May 2016, Congress-DMK alliance had emerged victorious in 2016general elections. The alliance had won 17 seats (Congress: 15; DMK:2) in the 30 member Territorial Assembly.