PANAJI: The ministry of urban development has been given charge of the Real EstateRegulatory Authority (RERA), including framing of rules and appointment of the regulatory authority and appellate tribunal under the Real Estate (Regulation and Development) Act, 2016. The decision to hand over charge of RERA to the urban development ministry from the ministry of town and country planning was taken by the council of ministers at the cabinet meeting held on Wednesday.
“The ministry of urban development has been made the parent body for RERA,” urban development minister Francis D’Souza said.
On April 25, TOI had reported that the state department had initiated a process to identify the nodal department for RERA and that, as an interim measure, the secretary for urban development had been decided to head the RERA ad-hoc committee.
“Since in the central government, RERA is allocated to the ministry of urban development, it is proposed to allocate RERA under the department of urban development, by inserting a new entry under the allocation of the business rules,” secretary for general administration Ranbir Singh said, in the cabinet note. Parliament enacted the Real Estate (Regulation and Development) Act, 2016, to regulate the real estate sector and to ensure efficient and transparent business transactions that are in the interest of the consumer. The legislation is meant to provide for an adjudicating mechanism for speedy dispute resolution.
The town and country planning department had drafted the rules under the Real Estate (Regulation and Development) Act, 2016, along the lines of the Maharashtra RERA. The legislation became effective across the country from May 1, but most states, including Goa, have failed to notify rules under RERA.
According to Section 85 of the act, rules are required to be notified by the regulatory authority within three months of its formation and non-implementation of RERA would create a vacuum, say officials.