JKRERA Cracks Down on Non-Compliant Real Estate Projects in Jammu and Kashmir
JKRERA conducts surprise inspections of real estate projects in Jammu and Kashmir, issues notice to defaulter for non-compliance with RERA Act.
Real EstateHousingJkreraRera ActProperty DevelopmentReal Estate NewsJul 26, 2024
The projects inspected by the team included River Castle apartments, Tawivihar, Sidhra, Tawi Apartments, Mass Housing Building Corporation Limited, Palm Riviera, Sidhra, and Royal Nest Sapphire, Kunjwani. The primary focus of the inspection was to safeguard the interests of homebuyers and make the builders/promoters aware of the various provisions of the Real Estate (Regulation and Development) Act, 2016 and the rules and regulations made thereunder.
Following a surge in consumer complaints, JKRERA has also issued a notice to a real estate developer for non-compliance with the Act. The developer has been directed to register itself under Section 3(2) of the Real Estate Act. It is imperative for promoters to understand that advertising, marketing, booking, selling, or inviting purchases for any plot, apartment, or building within a planning area is strictly prohibited without prior registration with the Real Estate Regulatory Authority.
JKRERA remains committed to upholding the rights of homebuyers and ensuring transparency in the real estate sector. The Authority urges all real estate developers to cooperate fully with the inspection process and strictly adhere to the provisions of the Real Estate Act. This move is expected to boost confidence among homebuyers and promote a healthy and transparent real estate market in Jammu and Kashmir.
Information
JKRERA is a statutory body established to regulate and promote the real estate sector in Jammu and Kashmir. The Authority is responsible for ensuring compliance with the Real Estate (Regulation and Development) Act, 2016 and protecting the interests of homebuyers.
Frequently Asked Questions
What is the purpose of JKRERA inspections?
The purpose of JKRERA inspections is to ensure compliance with the Real Estate (Regulation and Development) Act, 2016 and to safeguard the interests of homebuyers.
Which real estate projects were inspected by JKRERA?
The projects inspected by JKRERA included River Castle apartments, Tawivihar, Sidhra, Tawi Apartments, Mass Housing Building Corporation Limited, Palm Riviera, Sidhra, and Royal Nest Sapphire, Kunjwani.
What is the penalty for non-compliance with RERA Act?
The penalty for non-compliance with RERA Act includes fines and imprisonment.
What is the role of JKRERA in promoting transparency in real estate sector?
JKRERA plays a crucial role in promoting transparency in the real estate sector by ensuring that builders/promoters comply with the Real Estate (Regulation and Development) Act, 2016.
How does JKRERA protect the interests of homebuyers?
JKRERA protects the interests of homebuyers by ensuring that builders/promoters comply with the Real Estate (Regulation and Development) Act, 2016 and by providing a platform for redressal of grievances.
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