Around 35,000 to 40,000 ongoing residential projects must be registered under the Real Estate (Regulation and Development) Act (RERA) in the next three months. If the developers fail to comply, strict action will be taken against them, said Gautam Chatterjee, chairman of the Real Estate Regulator Authority. Speaking with DNA on Wednesday, Chatterjee said that there would be no hesitation in using the provisions of RERA against any developer. Chatterjee mentioned that real estate agents also need to be registered with the regulatory authority. AnalysisDevelopers as well as real estate agents must register under the (Regulation and Development) Act.

Source: dna May 04, 2017 02:03 UTC