PANJIM: Builders in Goa have been granted till December 31 to register their projects with the Real Estate Regulatory Authority (RERA). This is the second extension granted by the government. 

The central Real Estate (Regulation and Development) Act (RERA) came into effect on May 1, 2017. As per the Act, developers and agents had till July 31 to mandatorily register their projects with the Real Estate Regulatory Authority. 

In Goa the rules are yet to be notified, even as draft rules have been framed and been placed in public domain. Any unregistered project would be deemed unauthorised by the regulator. The government had earlier granted an extension till October 31.

“The government has extended the date for acceptance of application for registration of ongoing 

Real Estate Projects under Real Estate Regulatory Authority (RERA) up to December 31, 2017, without levy of penalty,” the government said in a statement that has been issued.

Under Section 85 of the Act, every real estate project with an area of over 500 sqm will have to be registered with the authority within three months of the notification. 

The new regulatory authority is meant to end uncertainty for home buyers, bring transparency and protect buyers from unscrupulous builders.