Business / बिज़नेस

M.P. Tops in Country for Constituing Authority Under Real Estate Regulation and Development Act

Bhopal. Chairman Madhya Pradesh Real Estate Regulatory Authority Antony De Sa and Principal Secretary Urban Administration Malay Shrivastava dedicated website of Real Estate Regulatory Authority (RERA). Members of the Authority Dinesh Nayak, Aniruddha Kapale, Principal Secretaries of Science and Technology, Legislation and General Administration Deptt., Commissioner Housing Board and Director Town and Country Planning were present on the occasion. Madhya Pradesh is the first state of the country which has formed the Real Estate Regulatory Authority and has published its rules. De Sa has informed that this Act has come in effect from May 1, 2017 in the entire state. Rights of customers will be protected through this Act in the state.

The real estate sector will be properly organised besides making it transparent and responsible keeping in view the interest of the customers. Complaints received from the customers will be solved speedily by the authority. De Sa further informed that all the processes have been developed in the form of web based online system. Builders, real estate agents can register applications for registration and customers can lodge their complaints online on website Information related to redressal of complaints will be sent to the customers on their mobile phones through SMS gateway.

Projects which are proposed to be constructed in future or incomplete till April 30, 2017 for which completion certificate has not been issued by the Municipal Corporations will come under the purview of Madhya Pradesh Real Estate Regulatory Authority. It was informed that it has been made mandatory for promoters or developers to register their projects in the authority before its marketing. It is necessary to get the present under construction incomplete real estate projects registered within three months before the authority. In addition to this promoters and developers are required to submit update information in the authority about the project every three months and information containing photos concerning projects will be displayed on the website.