Punjab nod to notify real estate Act rules
The Punjab government gave its nod for notification of rules for implementation of the Real Estate (Regulation and Development) Act (RERA), 2016, in the State. The Act aims to protect the interests of property buyers against ‘unscrupulous’ builders. In a meeting of the Department of Housing and Urban Development here, Chief Minister Captain Amarinder Singh gave a go ahead to the Department to frame the rules and regulations for implementation of RERA in the State. An official spokesperson said the Chief Minister approved the establishment of a regulatory authority for implementation of the Act and directed coordinated efforts for development of the real estate sector. “The proposed authority, to comprise a chairperson and at least two members as mandated by the Act, would act as the nodal agency. The State government would soon notify rules in this regard,” said the spokesperson. He added that Captain Singh would place the memorandum related to enforcement of the Act in Punjab before the next Cabinet meeting for approval. “The authority was mandated by the meeting to register real estate projects of 500 square metres and above, or 8-storey apartments or more. Ongoing projects that haven’t obtained completion certificate prior to May 1, 2017, are required to register within three months,” the spokesperson added. He also ordered a freeze on registration of FIRs in cases relating to unauthorised construction till completion of ongoing review of such colonies. The CM urged the officials concerned to find a way to provide basic amenities to people living in unauthorised colonies without encouraging development of more illegal colonies.
Tags : News/Views