RERA Registration: Haryana builders seek 3 more months

RERA registration for projects under H-RERA, several Haryana based developers approached government, wants extension in the deadline for registration. The deadline was on July 31 and majority of projects are yet to be registered.

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RERA Registration: Haryana builders seek 3 more months

RERA registration for projects under H-RERA, several Haryana based developers approached government, wants extension in the deadline for registration. The deadline was on July 31 and majority of projects are yet to be registered.

400 applications for registration was submitted between July 28 to July 31, with the ad-hoc authority that has been put in place while the state regulator is formed. Till now only 30 projects have received registration certificates.

As per the norms, the developers cannot advertise the projects before they get registered under the Act. 20 developers, last month got the notice from the government for advertising their projects without registering them.

Since RERA (Real Estate Regulation & Development Act) was supposed to be notified on May 1 but it got delayed for three months and notified on July 28, the last date for registration was July 31 with only 3 days left for registration. So the government should extend the deadline by three months as told by the President of National Real Estate Development Council (NARDECO), the apex body of the real estate.

As the Uttar Pradesh Government has extended the deadline for registration by 15 days, along with a plan to impose minimum penalty for the first three months after that. The President of NARDECO wants Haryana Government to announce a similar plan.

As the implementation of Haryana-Rera will give boost to the real estate sector, there are also many grey areas on which both developers and customers need clarity. In this case deadline extension will be a positive step towards its successful implementation.

Initially all stakeholders faced many challenges, due to lack of clarity on Act. There was confusion over the State and Central Act rules, which took time to get cleared. The website too had faults or was down for most of the initial 30 days.

Source Link- http://realty.economictimes.indiatimes.com/news/industry/haryana-builders-seek-3-more-months-for-registration-under-rera/59891682

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