Gujarat gets interim real estate authority
After having notified the rules of the Real Estate (Regulation and Development) Act, 2016 (RERA) early this month, Gujarat government appointed an interim real estate regulatory authority for the state. Manjula Subramaniam, former chief secretary and ex-vigilance commissioner of Gujarat, has been named chairperson of the state-level authority. However, the government is yet to officially announce the appointment.
The state government, meanwhile, also formed a selection committee to recommend names of members for the full-time authority. Apart from the chairperson, the authority must have no less than two other members. The other members are yet to be appointed, said sources while confirming the appointment of Subramaniam as the head.
The new realty law, which came into force on May 1, provides for establishment of state-level regulatory authorities to register, approve and regulate real estate projects and real estate agents. Apart from ensuring compliance with the rules and regulations under the act by promoters, allottees and real estate agents, the authority has the power to call for information from developers, consumers and realty agents as well as conduct investigations in case provisions of the law are violated.
The authority is also responsible for publishing and maintaining a website of records. Government officials revealed that work on building a website for online registration of projects and maintaining records of documents related to realty projects and promoters is in full swing and 80%-85% of work on the website is complete.