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Government has no record of builders, registration a tough job

Registration of real estate developers and agents proves to be a tough job for the Uttarakhand government as it does not have a record of the property promoters.

dehradun Updated: Jul 31, 2017 20:47 IST
Nihi Sharma
Nihi Sharma
Hindustan Times
Uttarakhand,Real estate,registration
A residential apartment in Dehradun.(Vinay Santosh Kumar)

Dehradun: Registration of real estate developers and agents proves to be a tough job for the Uttarakhand government as it does not have a record of the property promoters.

The government notified Uttarakhand Real Estate (Regulation and Development General) Rules 2017 on April 28 after the Centre came up with Real Estate (Regulation and Development) Act in 2016.

Under the rules, the developers were asked to get themselves registered with a regulatory authority by July 31. About 30 registrations have been done till the last date, though there are nearly 500 big builders and developers in the state.

“We have done less than 10% registration, which is a matter of concern. The main problem is that we do not have a list of such promoters which is going to make our task challenging,” said Amit Negi, chief administrator of the Uttarakhand Housing and Urban Development Authority that looks after the enforcement of the rules.

“We have plans to work on it strategically so that people of the state could avail of the benefits of the rules,” Negi told Hindustan Times.

The rules make registration mandatory for promoters whose land is above 500 square metre and who have over 8 units (apartments) for sale – both in old and new projects.

The objective of the rules is to protect the interest of buyers – giving wings to the common man’s dream to have his own property. The norms aim to rein in the real estate industry -- builders can fix price as per carpet area and will have to reveal the deals to the government.

Considering fewer registrations, the real exercise for the authority begins from August 1. Officials plan to bring Mussoorie-Dehradun Development Authority and district magistrates under one roof to identify and list the promoters.

As builders seek no-objection certificates from administration for works, such as sewage disposal and getting power and water connections, these applications would be key to list builders.

Apartment culture is booming in Dehradun district followed by US Nagar, Haridwar and Nainital. In the capital, the carpet area rates for apartments vary from Rs 400 per sq ft to Rs 4000 per sq ft.

MDDA secretary PC Dumka said, “It will take some time to list all big developers and small agents that get a cut on the sale price. Once we identify them, people interested in buying property won’t be cheated.”

Tushar Kumar, GTM Builders chairman, said apartment prices in the capital can be compared with those in Gurgaon and Noida extension. “The rules are extremely important for the growth of real-estate sector in the state. But, the government has to publicise the importance of registrations,” Kumar said.

“The government may be able to identify big builders, but it wouldn’t be a cakewalk to register small agents that get a good income out of sales,” he said.

First Published: Jul 31, 2017 20:47 IST