As per RERA Act every state had to frame rules in respect of Real Estate Regulation Act till 1st of May 2017 but till now many states have not yet notified their rules. The central government is taking every possible step for the implementation of RERA Act hence it has clarified that developers in states has to stop marketing their under-construction property until they get these projects registered with RERA Authority. Consequently, the states are under immense pressure for the urgent requirement of making RERA authority under the Act.
This proclamation from center won’t let developers do business in respective states without get registration and in the same line they are helpless because it is the responsibility of state to make an authority and get developers registered. Except few states including Maharashtra, Madhya Pradesh, Rajasthan, Delhi, Odisha, no other state has yet developed any authority or came up with any online registration process.
Continuing with this the Housing Ministry also bring attention towards the 90 days’ time limit given for the registration will over on 31st of July 2017, afterward which will attract penalties and fine under the Act. Haryana has took one step forward and started giving registration even without notifying rules.
Disclaimer – the above article is based on our own internal information and sources. The above informations would not be applicable unless and until a related Government notification is issued in this regard. Please take expert opinion before relying on any of the information.
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