RERA will decide to inform the district collectors to take required actions against all unregistered projects in rural areas.
Additionally, RERA will take the taken once finished the survey. When it comes to Real Estate Regulatory Authority, it will force some penalty on illegal or unregistered projects. The officials told that the developers in rural areas are provided with 90 days under this section 3 of RERA Complaint Act, 2016. RERA will impose 10% of development cost on every project developer who does not register their projects with RERA told by RERA.
The sources said that many developers in rural areas continue to fully stay out of RERA radar according to the sources. Though the last day of 90 days for developers in the rural area of the state for successfully registered with RERA finished the way earlier, not many developers are motivated for registration. “Fewer than 20 developers have registered the projects in this state”.
If this act is implemented in the urban area, RERA will take the real estate property in rural areas under the scope. Penalties are also imposed on projects that are not registered within the mentioned time period.
Many projects are now coming along highway adjoining or away from city border in this state. There is a decision is taken to take project developers under RERA scope to protect the interest of consumers. It will be done after getting permission from the chairman of RERA. Now, the actions are taken on project developers who do not register their developments.
Additionally, RERA is introduced with an objective to provide accuracy in the existing system and to protect the interest of home buyers.
The interested buyers eager to accept the objections with the authority of regulatory will truly go ahead after getting the registered project profile on the RERA’s online website, in case buyers feel duped. Citizens who are successfully booking their house in this project and developer fail to register on RERA portal can inform the RERA instantly.