Bihar RERA gets tough on erring real estate firms
Bihar Real Estate Regulatory Authority (RERA) has issued 55 notices to 16 real estate companies across the state in just one week for making haste in completing their projects without registering them with the authority.
The notices were issued to the builders for not complying with Section 3 of the Real Estate (Regulation and Development) Act 2016. Under Section 3, it is mandatory for builders to get permanent approval before advertising projects, entering into an agreement with customers and accepting advance money from them.
RERA-Bihar member Rajiva Bhushan Sinha told this newspaper on Sunday that the ongoing projects which are not registered with the authority are located in Patna, Bhagalpur, Muzaffarpur, Bhojpur and Rohtas districts.
RERA-Bihar had recently directed the real estate companies to display prominently the names of the projects, promoters, developers, registered real estate agents, RERA number and dates of the commencement and proposed completion of the ongoing projects at the construction sites and the offices of the real estate companies.