Realty regulatory draft Bill ready | gurgaon | Hindustan Times
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Realty regulatory draft Bill ready

To establish the Haryana Real Estate Regulatory Authority (HRERA) to regulate the real estate sector, the town and country planning department has invited suggestions on a draft Bill — The Haryana Real Estate (Regulation and Development Bill-2013).

gurgaon Updated: Feb 18, 2013 01:39 IST
HT Correspondent

To establish the Haryana Real Estate Regulatory Authority (HRERA) to regulate the real estate sector, the town and country planning department has invited suggestions on a draft Bill — The Haryana Real Estate (Regulation and Development Bill-2013).

The department has uploaded the document on its website http://www.tcpharyana.gov.in for public scrutiny.

The department has also invited suggestions for establishing an appellate tribunal to adjudicate disputes and hear appeals from the decisions or orders of the Authority and for matters connected therewith or incidental thereto.

The setting up of the HRERA will ensure sale of immovable properties in an efficient and transparent manner. An Act would formally be notified after the draft Bill is approved.

After the legislation is enacted, no promoter shall book, sell or offer for sale, or invite persons to purchase in any manner any immovable property or part of it without registering the real estate project with the HRERA established under the Act.

A department spokesperson said the state government shall, within a period of one year from the Act coming into force, by notification in the official Gazette establish an Authority to be known as the Haryana Real Estate Regulatory Authority.

HRERA composition
The HRERA will comprise a chairperson and two whole-time members, who will to be appointed by the government. The chairperson and other members of the Authority shall be appointed on the recommendations of a selection committee consisting of persons having professional experience (at least 20 years in case of chairperson and 15 years for members) in urban development, housing, real estate development etc.

Any person who is, or has been in government service, shall not be appointed as a chairperson unless he/she has held the post of principal secretary to the state government.

Any person who is, or has been in government service, shall not be appointed as a member unless he/she has held the post of secretary to the government or the post of chief town planner in the government.

Documentation
Under the Act, every promoter shall make an application to the Authority for registration of the project accompanied by fee as specified by the regulation.

The promoter shall also enclose documents like enterprise details, including name, address, type of enterprise (proprietorship, societies, partnership, companies, local authority) and particulars of registration; an authenticated copy of the commencement certificate from the competent authority.