The Goa government will notify the rules under the new real estate regulation Act in the next three months, Town and Country Planning Minister Vijai Sardesai said today.
The Real Estate (Regulation & Development) Act, 2016, which seeks to protect home buyers from unscrupulous developers, has come into effect from today. Under the Act, states had to notify realty rules and set up Real Estate Regulatory Authority (RERA) by April 30.
"Goa could not notify these rules earlier because of the code of conduct imposed in the wake of Assembly elections. We will notify these rules in the next three months," he told reporters.
Sardesai said the Town and Country Planning Department has already drafted RERA rules, which protect the interest of property buyers in the state, the minister said.
He said the government will form a regulatory body to ensure strict enforcement of these rules.
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