As there is no voluntary compliance to the provisions of Real Estate (Regulation and Development) Act even after repeated awareness programmes, the J&K Real Estate Regulatory Authority (JKRERA) has asked Jammu Development Authority (JDA), Srinagar Development Authority (SDA), other Government agencies and all the private developers to promptly register projects failing which Authority will start initiating strict action.
The Section 3(1) of the Act, which deals with prior registration of real estate project with Real Estate Regulatory Authority, states: “No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate project or part of it, in any planning area, without registering the real estate project with the Real Estate Regulatory Authority”.
This means all the private developers as well as Government agencies like Jammu Development Authority, Srinagar Development Authority, J&K Housing Board etc are required to register their not only upcoming but the ongoing real estate projects registered with JKRERA.
In order to ensure voluntary compliance of the provisions of the Act, JKRERA conducted many awareness programmes but much to its disappointment developers in the Government as well as private sectors have not initiated any step towards compliance of the provisions of the law.
“This compelled the RERA to conduct inspections of several projects during the past few months and on the basis of inputs received during this drive it has issued notices to around 20 private developers for ensuring compliance of the Act”, official sources told EXCELSIOR while disclosing that more notices are going to be issued shortly as Authority has decided not to be lenient towards the violators of the law.
They disclosed that even JDA, SDA and J&K Housing Board have been directed to ensure registration of real estate projects (ongoing as well as new ones) as early as possible otherwise they too will be served notices. “Earlier JKRERA decided not to go in a police manner but in inclusive manner but it has realized that for implementation of law in its letter and spirit some strong steps strictly as per the Act are required to be taken”, sources said.
The JKRERA has also received a number of complaints from general public that private developers are selling hundreds of plots in several areas of Jammu and Srinagar without getting themselves registered and all such developers will face the music in near future, sources informed.\
Disclosing that RERA have the powers to impose penalty or interest with regard to any contravention of obligations cast upon the promoters, the allottees and the real estate agents, sources said that if any promoter contravenes the provisions of Section 3 (prior registration of real estate project), he or she shall be liable to a penalty which may extend up to 10 per cent of the estimated cost of the real estate project as determined by the Authority.
Further, if any promoter does not comply with the orders, decisions or directions or continues to violate the provisions of Section 3, he or she shall be punishable with imprisonment for a term which may extend up to three years or with fine which may extend up to a further 10 per cent of the estimated cost of the real estate project, or with both, sources said.
Asking people to verify registration status before buying any real estate asset, sources said, “this is beneficial for the buyer as in case of delay in completion of project, it’s handing over beyond the clearly defined time-frame and any sort of shortcoming in the project, RERA can intervene and even provide compensation to the affected person from the developer”.
