I was following closely the developments happening in the directions of scrapping ULCRA. For the uninitiated ones, it’s Urban Land Ceiling and Regulation Act. Now what’s this? It’s the act/law which stops people who have excessive quantity of land to sale it for development.
As over last one and half year, the rates of real estate have crossed all the limits in Pune, the middle class is bearing the brunt of the situation. The so called growth is so obscene that every piece of $hit apartment had started costing at least twice that its worth.
Then came the news that Chief Minister of Maharashtra is going to put the resolution in current assembly session to scrap this act. Now don’t think that its b’coz that he cares for the people or something, but that’s the directive/condition by Central Govt. to release some kinda aid for the state. But whatever may be the reason, it might had provided some respite to the so-called aam aadmi.
But then came the news that some political party had urged the CM on the behest of, u know who, to postpone the scrapping. Also they told him that lets talk about this in next session of assembly and not now. The reason was, many builders and developers (not poor us, but the other kindred) has invested lot of money in land and the real estate. If this law is scrapped now, then they will suffer heavy losses. This was really astonishing to mere mortal like me and I was just loss of words to explain my anger about such a move. Also this makes it very clear that where the loyalties of those, whoever is talking about public welfare, actually lie.
Now the people of urban Maharashtra have to wait for 3 more months to get this happen, and hopefully at least then it shall happen.
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Yes Doc you are correct. There is no importance of aam admi for sarkar except for votes. So decision about act was obvious.
But what I feel is prices of real estate are going up not only due to less availability of land. It is happening also in other cities like Delhi, Bangalore. Lots of factors other than supply demand crunch are playing role in this boom like increased salaries, booming economy, greedy builder - politician lobby. So I doubt even after this act is scrapped real estate rates will come down.
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