Madhya Pradesh RERA proposes a modification in rules
Real Estate Regulatory Authority (RERA)Act, 2016, Seeks to protect Homebuyers as well as help boost investments in the industry. The Act established the Real Estate Regulatory Authority (RERA) in each state for the supervision of the real estate sector. The Act came into force on 1 May 2016 with including 59 of 92 sections notified.
BHOPAL: To assure that its plans are implemented without any delay, the Real Estate Regulatory Authority (RERA), Madhya Pradesh, has proposed a change in the rules. If the government gives its acceptance.
According to experts, RERA officials have proposed the appointment with district judge level officer as executing officer with the powers of the civil court as well with revenue court. The suggested modifications in state RERA rules. Rule 27 & 28 that deal with the recovery of interest, penalty, and compensation, implementing the orders, directions, and decisions of the authority.
Chairman Anthony de Sa, RERA Chairman told the proposal has already been sent to the authority. Earlier to sending the proposal in black and white, the proposal was discussed with the state government. The authority has shown its willingness to do so, stated by experts.
The orders of RERA would be implemented more effectively and bring in respite to both Builder & Homebuyers once the proposed modifications are implemented.
Probabilities are that the thing may get delayed in legal procedures. As per the present setup, if RERA passes an order and the concerned party is unwilling to accept it. RERA Authorities take up this resolution to civil court.
Otherwise, if the authority has an executing officer with the powers of civil and revenue court. It can settle the complaint at its level.
The case clearance rate of RERA is about 70 percent. Out of the 3,300 complaints that RERA received so far, 2,200 have been previously settled, while 1,000 are pending. Out of the total disposed cases, 85 percent worked in favor of allottees, while the rest 15 percent went in favor of developers. Complaints from Bhopal and Indore consider for 60 percent of the total, while the number of projects listed with RERA is nearby 2,200.
According to officials, the necessity for an executing officer has felt in about 300 incidents. This number may not be huge, just to assure all its orders are executed in their true spirit, correction is required in the rules, the officials added.
RERA Registered Residential Projects for sale in Bhopal
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