Mubashir Alam
Srinagar, Feb 24: In a significant move, the Jammu & Kashmir government has told officers to register all real estate projects with the Real Estate Regulatory Authority (RERA).
The Jammu & Kashmir Housing & Urban Development Department has directed all the administrative secretaries/heads of departments/managing directors of public sector undertakings/corporations to register all real estate projects, new and ongoing, with Jammu & Kashmir Real Estate Authority (RERA) before any work is started as per the Jammu & Kashmir Real Estate (Regulation and Development) Rules, 2020.
The directive has been issued in the wake of RERA commencing its functioning in J&K. The RERA started its functioning from January 18, 2024 after Satish Chandra, former IAS officer, was appointed as its head.
The Real Estate Regulatory Authority (RERA) has been set-up in J&K for regulation of the real estate sector and adjudication of disputes primarily between home buyers and developers.
The RERA has been set-up under the Real Estate (Regulation and Development) Act- a law enacted by the Parliament in 2016 to address the concerns and grievances of real estate developers, home buyers and other stakeholders.
Other states and UTs have also set-up RERAs. (KNO)
