The Hindu : New Delhi News : Draft legislation on Property Title Act soon

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Sunday, May 11, 2008
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New Delhi

Draft legislation on Property Title Act soon

Staff Reporter

It will bring in transparency in property transactions

‘City would become power surplus in about a year’
Industrial policy draft to be ready soon: Mehta

NEW DELHI: Delhi Chief Secretary Rakesh Mehta said over the weekend that the State Government would soon come up with a draft legislation proposing the Property Title Act to bring in greater transparency and accountability in property transactions in the Capital.

In an interaction session with members of the PHD Chamber of Commerce and Industry, Mr. Mehta said: “We have been working on this legislation for the past three and a half years and had several rounds of discussions with an institution in Washington. Amar Chand Mangaldas, a law firm, has been commissioned to draw up the draft legislation that will be announced in six weeks’ time.”

In India only Andhra Pradesh has a Property Title Act.

Mr. Mehta said in Delhi there was only a provision for registration of property. Once the Act was enforced, property transactions would become easier, he added.

Mr. Mehta assured that in about a year the Capital would become power surplus as it had already contracted for supply of 8,000 MW of power. He said power availability had improved considerably this year due to the reforms carried out by the State Government in recent years. There was also an overall improvement in the availability of water despite the inter-State water disputes, he claimed, proposing participation of industries in resolving the water deficit.

As for the transport sector, Mr. Mehta said the only solution before the State Government was implementation of the Integrated Multi-Model Transport System for speedy movement of about 80 lakh commuters every day. “Carving out new roads is not a solution to the present traffic snarl. It has to be a policy taking into consideration the traffic needs of the country,” he said.

The Chief Secretary also informed that Ernst & Young had been appointed as transaction adviser for giving consultation to 40 Government departments on how to go about implementing the public-private partnership policy in an efficient manner. At present, 72 such projects are in the pipeline that would be implemented with the help of the private sector.

Stating that Delhi’s draft industrial policy would be ready soon, Mr. Mehta said there could be an interface between the PHD Chamber and the Delhi Government on this.

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