RERA is also known as the Real Estate Regulatory Authority. Real Estate Regulation and Development Act covers all the residential and commercial projects in every state. RERA is aimed to protect the interest of consumers, promote fair play in real estate transactions and to ensure timely execution of the projects.
According to sources, after the implementation of RERA in Rajasthan, the plotted colonies developed by the JDA or any other development authority will have to register online with RERA website to share the project details.
Uploading details online will fascinate more buyers, interested clients can access minute details, such as duration of development, power and water supply, roads and other facilities related to JDA housing projects.
As per the RERA Provisions, all plotted colonies and homes developed above 500 square meter area will have to share their details online. Alternatively, the government launched a committee to examine the registration of all projects on RERA website. The registration process will close down before July 31.
In the recent years, residential areas developed by the JDA have attracted a majority of home hunters in Rajasthan, especially in Jaipur. Nevertheless, delayed possession and lack of information regarding JDA approved colonies turned things sour for prospective buyers. Thus the government came up with an indigenous idea to solve this problem. They made it mandatory for the builders to upload their property details on RERA website.
According to the sources, the JDA can’t construct the colonies in the far flung areas without seeking NOC from the electricity and water departments. They have violated this rule on several occasions. This led to disputes between JDA, electricity and water departments. RERA the new revamped system has set accountability for civic bodies.
After the implementation of RERA we hope that the development takes place in a planned manner.