From August 1, all the builders are ordered to mention their RERA registration number on project advertisements. According to a clause of the Real Estate Regulation and Development Act, Maharashtra, it’s mandatory for developers to provide correct information about their ongoing projects from May 1, so that the consumers can check every detail of the offering project and related amenities too. It also suggests that builders will have to update their ongoing project status in every 3 months on the RERA official website to keep consumers informed about the development progress.
Developers and realtors have given additional 3 months’ stretch from May 1 to complete their ongoing and new projects’ registration online. After August 1, it’s compulsory for the builders to showcase their RERA registration numbers on project advertisements. Starting from May 1, only 900 projects have been registered under state RERA authority, whereas about 30000 projects are yet to register immediately.
Projects don’t need any registration where promoters have completion certificate for either renovation or re-development purpose before May 1. But development of a new phase requires separate registration certificate under RERA authority. For registration number, promoters need to upload all the required documents online. After the layout gets sanctioned by the local civic body (Municipal Corporation), then builders can register buildings one after another. All the submitted disclosures by the builders and realtors will be available on state RERA website. An independent regulator will monitor every document being submitted. Any fake submission will be legally accountable.
“Real estate is a finance-driving industry of Kolkata. RERA has to be strict enough to protect buyers’ rights and to maintain transparency in realty sector. Builders should be aware of the legal consequence of any delusive document submission. Violation of RERA may set them behind the bars. People are advised to wait till July 31 for complete implementation of RERA, in order to buy property in Kolkata in a secured route,” said Mr. Mahesh Somani, RERA expert of West Bengal chapter.
Maharashtra State RERA authority assured that any complaint after the mentioned period should be approached to the grievance cell and will the resolved within 7days assured. One case at a time can go to one court only. All kinds of authorization for new proposals would be given by the local government under Right to Services Act. Any consumer can complain on the state RERA official website. Deceitful acts will be punished and honest will get a go ahead.
–LNN (Liyans News Network)