CREDAI- Bengal Unit Raises Voice Against ULCA

CREDAI- Bengal unit urged the state government to do away with urban land ceiling act- ULCA. Real estate developers’ apex body said that ULCA blocks the real estate constructions. Further the CREDAI- Bengal unit said that this has become a serious issue for them.

CREDAI- Bengal unit pulled off Mamata Banerjee government for having implemented Urban Land (Ceiling and Regulation) Act (ULCA) in Bengal. Bengal is one of the few Indian states to have such an Act, said CREDAI.

CREDAI said that ULCA highly acts as a hindrance to the real estate constructions. CREDAI’s national head Mr. Lalit Kumar Jain exclaimed that he was surprised to see Bengal holding ULCA still. He mentioned that the whole country has got rid of ULCA.

He also highlighted the higher stability of prices in other states which do not have ULCA. He also pointed that these states have more supply as well. Land is a state- subject so the state should reform the existing land acts, he demanded. Mr. Jain said that only the removal of ULCA will bring real estate development in Bengal.

CREDAI national president expressed his views while addressing a three-day conclave. Interestingly his comments came in procession to the statement of state Industry Minister. Partha Chatterjee, state Industry Minister, had told in his speech that ULCA was not an issue.

Mr. Lalit Kumar Jain- the national head CREDAI – suggested the state to increase the floor area ratio. Mr. Jain added that only by increasing the floor area ratio- FAR- the real estate developers will be able to construct sky scrapers or taller buildings. According to him tall buildings are the necessity of the time as there is higher demand for space.

He opined that the FAR should be revised to 5 from the existing 1.5 to 3. This lower FAR is not suitable for constructing taller buildings. He made use of the occasion to demand the lowering of taxes as well. The CREDAI was responded by Bengal Chief Minister Smt. Mamata Banerjee who assured necessary reforms to foster real estate in the state.

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