All real estate projects being undertaken without requisite registrations will have to pay up 10% of the estimated cost of project if they fail to get registration within a month, the Real Estate Regulatory Authority (RERA) of Chandigarh has said in a public notice.
As per the Real Estate (Regulation and Development) Act, 2016, it is mandatory for all residential and commercial real estate projects, where the area of land proposed to be developed is more than 500 square metres or the number of apartments or offices proposed to be developed is over eight, to register with RERA to protect the interests of consumers and to ensure speedy disposal of disputes.
Only six projects have been registered in Chandigarh since the Act came into existence. Sources reveal that currently, there around 10 to 15 projects under construction without registration.
RERA secretary Palika Arora said, “A public notice has been issued to all developers to register themselves with the RERA within a month, failing which a penalty of up to 10% of the estimated cost of project will be imposed.”
She further said that the maximum constructions are going on in the rural areas of the city. “We want the developers to come forward on their own to register the project. If they don’t, we will take suo moto action on the basis of complaints.” She added that action will also be taken against plotting being carried out on agricultural land in UT.
{{/usCountry}}She further said that the maximum constructions are going on in the rural areas of the city. “We want the developers to come forward on their own to register the project. If they don’t, we will take suo moto action on the basis of complaints.” She added that action will also be taken against plotting being carried out on agricultural land in UT.
{{/usCountry}}Arora said if a promoter constructs more than eight flats, shops, chambers, or units on a plot, irrespective of the size, he or she will have to register the project with RERA. Even construction of godowns is covered under the Act, she said.
The Act covers all bodies (private and public) which develop real estate projects for sale to the general public. In the absence of the Apartment Act, the Chandigarh Housing Board (CHB) is the only government agency responsible for the construction of residential units in the city.