By Accommodation Times Bureau
It’s been nearly two months since the Real Estate Regulatory Authority (RERA) came into effect in Rajasthan but only 3 projects and 11 real estate agents have so far registered with the new regulatory across the state.
There are more than 300 unreconstructed and 1,000 constructed projects in the state. However, registrations of projects and agents is going on at a snail’s pace in the state.
As per the new rules, developers, projects and agents have 90 days to register after the RERA Act came into effect on May 1. The new regulatory authority is expected to end many troubles for home buyers as it brings transparency in the existing system.
Officials believe that number of registration will increase now as department has resolved the problems, which developers were facing in registering with RERA. “The developers in a meeting requested to simplify the process for registering with RERA. The department has few amendments following this. We are hoping more registration in near future as deadline will approach closer.”
The developers in the state complained that state urban development and housing (UDH) department had adopted Maharashtra provisions. However, it was not feasible for Rajasthan. “The developers have to provide details on 49 points, which are mentioned in the registration form. The process was complex and it requires two- three days to collect substantial documents for one point. Demand was made to simplify the process, so that we can start the marketing of our projects after registering,” said Abhishek Sharma a city based developer.
It was further said that the state government had appointed additional chief secretary (ACS) of urban development and housing (UDH) department as the regulatory authority for real estate sector.
Currently, Mukesh Sharma is holding the position of additional chief secretary in UDH department. However, it requires a dedicated head of regulatory authority along with 20-member staff to resolve the problems of consumers and developers. “Proposal to appoint four-member regulatory authority has been sent to the state government. The authority will comprise expert members of finance, planning, legal and administration department,” said a UDH official.