JKRERA Inspects 20 Real Estate Projects from Sanatnagar to Raj Bagh
Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) conducts rigorous inspections of numerous real estate projects in Kashmir to ensure compliance with the Real Estate (Regulation and Development) Act, 2016.
Real EstateJkreraKashmirRegulationDevelopmentReal Estate NewsJan 10, 2025
The inspection, supervised by JKRERA Chairperson Satish Chandra, covered a wide range of projects, including Harco City Centre, Sanat Nagar, Horizon Galleria, Rajbagh, and Regal Mall, among others.
Some of the specific projects inspected include
- Harco City Centre
- Sanat Nagar
- Horizon Galleria
- Rajbagh
- Regal Mall
- Lal Chowk
- Site at Bye pass road, Sanatnagar, Srinagar
- Ahmad Plaza at Mominabad Batamaloo, in front of the lower court, Srinagar
- Shahjar Apartments on SDA land, Upper Soura, Hajibagh, Srinagar
- Firdous colony, Buchpora
- Rose Hills Estate
- Site at Exchange Road, Srinagar
- Site at Baghat Barzulla, IG Road, Parraypora
- Palm Spring apartments, Budgam
- Site at Kursoo, Raj Bagh, Srinagar
Notices were issued to the owners of these projects, requiring them to register with JKRERA within 15 days.
Failure to comply may result in actions as per the relevant sections of the Real Estate (Regulation and Development) Act, 2016.
The inspection was carried out by a team of officers and officials from JKRERA, including Chief Revenue Officer Suhail Ahmed Chintsaz, Under Secretary JKRERA Esha Chib, and others.
The primary objective was to verify whether the promoters and developers of these projects had registered with RERA, as mandated by Section 3 of the Act.
Chairperson Satish Chandra emphasized the importance of planned development, stating that numerous colonies are emerging haphazardly without the necessary approvals from competent authorities.
Many of these unauthorized colonies lack essential amenities like roads, electricity, and water supply, posing a significant threat to planned development.
He urged developers and promoters to adhere strictly to the regulatory framework and obtain the required approvals before starting any projects.
JKRERA is committed to ensuring planned development and protecting homebuyers' interests, he added.
He further noted that non-registration of a project with JKRERA could result in penalties of up to ten percent of the estimated cost of the real estate project.
Persistent violation of the Act, such as not registering a project with RERA, could lead to imprisonment for up to three years or a fine of up to a further ten percent of the estimated project cost, or both.
In case of any issues or concerns related to a real estate project, JKRERA's dedicated team is ready to assist in resolving grievances and providing guidance on the necessary steps.
Frequently Asked Questions
What is the Jammu and Kashmir Real Estate Regulatory Authority (JKRERA)?
JKRERA is a regulatory body established to ensure the proper regulation and development of the real estate sector in Jammu and Kashmir. It enforces the Real Estate (Regulation and Development) Act, 2016.
What projects did JKRERA inspect recently?
JKRERA inspected over 20 real estate projects, including Harco City Centre, Sanat Nagar, Horizon Galleria, Rajbagh, and many others in the Kashmir region.
What are the consequences of not registering a real estate project with JKRERA?
Non-registration of a project with JKRERA can result in penalties of up to ten percent of the estimated project cost. Persistent violation can lead to imprisonment for up to three years or a fine of up to a further ten percent of the project cost, or both.
Who supervised the recent inspections conducted by JKRERA?
The inspections were supervised by JKRERA Chairperson Satish Chandra and involved a team of officers and officials from JKRERA, including Chief Revenue Officer Suhail Ahmed Chintsaz and Under Secretary JKRERA Esha Chib.
What is the Real Estate (Regulation and Development) Act, 2016?
The Real Estate (Regulation and Development) Act, 2016, is a law enacted to regulate the real estate sector, promote transparency, and protect the interests of homebuyers in India.
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