Team Herald
PANJIM: The State Government on Thursday notified rules for establishing the Real Estate Regulator Authority (RERA) to regulate the real estate business in Goa. The rule empowers government to appoint the chairperson and members of the authority.
What is interesting is, the Government can order a judicial inquiry against the chairperson or member of the authority, if found involved in corrupt practices.
As temporary arrangement, Secretary Urban Development IAS Sudhir Mahajan has been appointed as the Regulatory Authority.
The central Real Estate (Regulation and Development) Act (RERA) came into effect on May 1, 2017, exactly a year after it was passed by Parliament. As per the Act, developers, projects and agents had till July 31 to mandatorily register their projects with the Real Estate Regulatory Authority.
However, in Goa, the rules are yet to be notified, even as the draft rules are framed and put in public domain. Any unregistered project would be deemed to be unauthorized by the regulator. Government has granted time till December 31 to the builders to get their projects registered.
