JKRERA Cracks Down on Non-Compliant Real Estate Projects in Jammu Region
JKRERA conducts surprise inspection of real estate projects, issues notice to defaulter, and reiterates commitment to protecting homebuyers' rights.
Real EstateJkreraReraHomebuyersRegulatory AuthorityReal Estate NewsJul 26, 2024
The inspection team, comprising Undersecretary RERA Esha Chib, Tehsildar RERA Megha Gupta, Naib Tehsildar RERA Gias-ul-din, and JE RERA Amit Verma, assessed the projects' adherence to the Act and its associated rules. The projects inspected included River Castle apartments, Tawivihar, Sidhra, Tawi Apartments, Mass Housing Building Corporation Limited, Palm Riviera, Sidhra, and Royal Nest Sapphire, Kunjwani.
The primary objective 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, the authority has also issued a notice to a real estate developer and directed them to register themselves under Section 3(2) of the Real Estate Act. It is essential 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.
The 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 to strictly adhere to the provisions of the Real Estate Act.
The Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) is a statutory body established under the Real Estate (Regulation and Development) Act, 2016, to regulate and promote the real estate sector in the state of Jammu and Kashmir.
The Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) is a regulatory body committed to ensuring transparency, accountability, and fairness in the real estate sector. With its commitment to protecting the rights of homebuyers and promoting the growth of the real estate industry, JKRERA plays a crucial role in shaping the real estate landscape in Jammu and Kashmir.
Frequently Asked Questions
What is the primary objective of JKRERA?
The primary objective of JKRERA is to safeguard the interests of homebuyers and ensure transparency in the real estate sector.
What is the Real Estate (Regulation and Development) Act, 2016?
The Real Estate (Regulation and Development) Act, 2016, is a central legislation that aims to regulate and promote the real estate sector in India.
What is the importance of registration with JKRERA?
Registration with JKRERA is essential for promoters to advertise, market, book, sell, or invite purchases for any plot, apartment, or building within a planning area.
What is the role of JKRERA in the real estate sector?
JKRERA plays a crucial role in shaping the real estate landscape in Jammu and Kashmir by ensuring transparency, accountability, and fairness in the sector.
What are the consequences of non-compliance with JKRERA regulations?
Non-compliance with JKRERA regulations can result in notice, penalty, and even cancellation of registration.
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