By Kailash Babar ET
Bureau|
Apr 20, 2017, 12.37 AM
IST
MUMBAI: Ahead of the implementation date of May 1 for Real Estate (Regulation and Development)
Act, 2016 (RERA), the government has notified remaining sections of the Act
through a gazette.
The sections notified by the ministry of housing
and urban poverty alleviation include key measures such as registration of
realty project and agents, functions and duties of project promoters, including
compensation, insurance and title of the project, rights and duties of
allottees. The notified measures include punishment for non-registration of
projects and recovery of interest or penalty or compensation and enforcement of
order, etc.
The notified section of 79-80 that deals with
jurisdiction of the Act has also been notified. "No court inferior to that
of a Metropolitan Magistrate or a Judicial Magistrate of the first class shall
try any offence punishable under this Act," said the notified section 80.
"It's a positive step and shows the government's
commitment to protect home buyers' interest. We now hope that all state
governments will fulfill their obligation as mandated by the Act and
immediately notify rules and appoint authorities since this notification ends
any speculation about extension of implementation deadline on May 1," said
Abhay Upadhyay, National Convenor, Fight For RERA.
He hopes that the Centre will now focus on
dilution of RERA rules by the states in favour of developers and take steps to
get those rules revoked and fresh rules, in line with the Centre, are notified.
The Real Estate (Regulation and Development)
Bill was passed on March 10, 2016 after a long wait of eight years. The Bill
was introduced in Rajya Sabha by UPA government on August 14, 2013 and referred
to RS select committee on May 6, 2015.
RERA was notified on May 1, 2016. The states are
now required to notify realty rules and establish real estate regulatory
authorities and appellate tribunals by April 30, as the Act would commence its
full operation from May 1.
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