Rajasthan RERA receives 559 applications from builders
The Real Estate Regulatory Authority (RERA) of Rajasthan has received 559 applications from developers and government agencies for registering their ongoing construction projects under the RERA Act till August 31. The state government had extended deadline till August 31.
The RERA Act came into effect on May 1 in the state. Developers and agents were provided 90 days to register thereafter. However, one month extension was provided on the demand of developers. The state government has made it clear that now no extension will be given to developers or real estate agents for registering with the RERA website in the state. RERA official claims, the authority will also take note of unregistered projects and issue notices for registration if required.
According to a senior official, as per the rules, developers who will register their ongoing project now will be liable to pay 10% of the project cost as registration charge. However, the RERA has not decided, how much penalty will be imposed against the defaulters. It is believed, there are more than 200 under constructed projects in the state and 50 projects in the Jaipur have still not registered under RERA.