Home Buyers Have to Wait to get Relief from RERA

Even after the implementation of the much-awaited real estate act Rare (RERA), home buyers may have to wait a bit longer to get relief.

In the years to come, millions of people planning to buy a house and those whose money is stuck in the Under Construction project, the real estate act was waiting for RERA Although it has been implemented since May 1, 2017, it seems that it may take more time for the home buyers to get relief under the Real Estate (Regulation and Development) Act, 2016 (REA).

Under this new rule, different timelines were fixed by the governments of the States and Union Territories (UTs). However, many states are far behind on different fronts. Learn and read about those time bounds which are still incomplete and those who have yet to complete.

Notifying the rules:

The biggest screw in this rule to ensure the benefits of home buyers is that from the date of its implementation (1st May 2016), it is necessary that all state governments should notify the rules related to it within the next 6 months. I.e. until October 2016. But the situation is that by April 30, 2017, only 5 states have notified the rules. The Central Government was required to inform the rules for union territories. While the 59 sections under the Act were notified on April 26 last year, the remaining 32 streams were notified by the Central Government since late April 19 The slower bureaucratic states of states may be one of the possible reasons behind the delays in reporting this act on behalf of states.

Establishing the authority:

According to the Act it was decided that the regulatory authority should be established by April 30, 2017. However, no state government and union territories have yet to establish permanent regulatory authority. This Act provides the power to nominate any officer to the Government as an interim regulatory authority until a full regulatory authority is set up. According to the Ministry of Housing and Urban Poverty Alleviation, 13 states and Union Territories have created interim regulatory authorities by 1 May 2017. This includes: Kerala, Maharashtra, Punjab, Rajasthan, Mizoram, Haryana, Delhi, Andaman and Nicobar islands, and Chandigarh. However, some experts say that the rules are in violation of the interim regulatory authority.

Establishment of the Appellate Tribunal:

The Act has also ordered the states to set up the real estate appellate tribunal. For this, deadline of 30 April 2017 was given. However, it has not been so far. The establishment of the Tribunal is necessary because if the buyer does not agree with the decision of the buyer in the house, then he can knock on the tribunal's door to get relief.

Registration of projects:

Under this Central Act, developers are required to register them with Regulatory Authorities before July 31, for those projects which are under progress and they have not got full certificate (CC). Although a lot of states have taken it lightly. For example, the state government of Uttar Pradesh and Rajasthan has been excluded from registration of projects where local authorities have been handed over to the local welfare organizations for maintenance or maintenance.

Registration of estate agents:

Real Estate Agents must also be registered with the Authority before July 31. According to the Act, a 'real estate agent' can be any person who works on behalf of a person in the transaction of plot, apartment or building, receives remuneration in the form of commission, and in the property dealers, brokers, middlemen Are included.

Web-based system:

According to this Act, the establishment of a regulatory authority requires a web-based online system for various purposes within 1 year. It is one of the main streams of the Act. Once the regulatory website starts functioning, a buyer will be able to make reasonable decisions before buying the property.