JAIPUR: Real estate developers may no longer be able to take buyers for a ride. The state urban development and housing (UDH) department in the proposed rules for the Rajasthan Real Estate (Regulation and Development) Act 2016 has incorporated a provision to set up a real estate regulatory authority (RERA) and penalise promoters delaying housing projects.
The department has framed rules for implementing the provisions of the Centre’s Real Estate (Regulation and Development) Act 2016. “We have sought suggestions and objections from the public for the same. The draft rules will be tabled for approval after one month. So far, we have not received any suggestions or objections,” said a UDH official.
As per the draft, it would be mandatory for all commercial and residential real estate projects to register with the regulatory authority for launching projects. Also, appellate tribunals will be set up to adjudicate disputes. “Punishment up to three years or fine of 10% of the estimated cost of the project can be imposed by the regulatory authorities for non-registration of projects,” informed the official.
The existing practice of selling on the basis of ambiguous super built-up area for a real estate project will come to an end as the new law makes it illegal. Developers will have to define the carpet area. Moreover, it would be mandatory to make the details of the projects online. “Any violation like increase in the size of apartments, change in layout and construction of additional towers in a project without taking consent from 70% of the allottees can lead to cancellation of registration,” said the official.
Similarly, it would be mandatory for the developers to seek no objection certificates (NoCs) from departments, which deal with water and sewerage. Procuring environment clearance and NoC from airport authority of India (AAI) will be mandatory. “As per the draft of the rules the developers have to seek NoC from six different departments. At present, they seek permission from the development authority concerned, urban improvement trust (UIT) or urban local body,” said the official.
Credits ET Realty