The UT administration reasoned that it will be financially prudent for both the cities to share as Chandigarh has a low footprint of private developers which can come under the purview of the Real Estate Act
The city will now share its Real Estate Regulatory Authority and Real Estate Appellate Authority with Delhi, under the Real Estate (Regulatory and Development) Act, 2016. Members, when appointed, will be available in Chandigarh for a limited period every month, the exact duration is yet to be finalised.
The act states that every union territory (UT) and state must set up RERA (Real Estate Regulatory Authority) and REAT (Real Estate Appellate Authority) for safeguarding the rights of home buyers. Chandigarh was the first to set up a temporary RERA in October 2016. Later, the UT administration requested the ministry of home affairs (MHA) to club the Chandigarh RERA with Delhi’s.
Housing secretary KK Jindal said, “The administration wrote to the MHA in November 2016 to club Chandigarh RERA with that of Delhi’s. The ministry forwarded the letter to the Union ministry of urban development and poverty alleviation (MHUPA). The proposal was accepted in May after the MHUPA wrote to the lieutenant governor of Delhi.”
The process of the selection of the chairman was also initiated by the lieutenant governnor and is expected to be completed by the end of this month.
The UT administration reasoned that it will be financially prudent to club the Chandigarh and Delhi RERA. The city has a low footprint of private developers, which can come under the purview of the act. The public sector, Chandigarh Housing Board, is the main developer.
Every builder and real estate agent has to register their project with the RERA before they can advertise or market or sell projects to the buyer. Home buyers can make complaints with RERA against builders and agents. The appeals against the decisions of RERA can be made before the appellate tribunal. Violation of the act or non-compliance withe RERA and REAT orders can lead to a fine and imprisonment for the builder and the agent.
By: Munieshwer A Sagar
Courtesy: http://www.hindustantimes.com published on July 25, 2017