THIRUVANANTHAPURAM: The state government has issued notification for the appointment of chairperson and members of the proposed Real Estate regulatory authority (RERA) under Real estate (Regulation and development) act, 2016.
The government has issued the notification two years after RERA Act 2016 came into force. RERA Act which was passed by the parliament to introduce governance in the real estate sector had come into force in May 2016. As per the provisions of the act, the government will have to establish a Real estate sector had come into force in May 2016. As per the provisions of the act, the government will have to establish a Real estate regulatory authority and will have to appoint a chairperson and two full-time members.
LDF government had repealed KRERA citing that it did not protect the interests of the consumer and that many of its provisions aimed at safeguarding builders. Kerala is one among the eight states in the country which has failed to notify real estate regulation rules within the deadline and which has not established a web portal. As per the data available with the ministry of housing and urban affairs, there were 76,044 companies were operating in the real estate sector in the country as in 2016 of which 1,270 companies operated in Kerala.
Source From : https://timesofindia.indiatimes.com/city/thiruvananthapuram/kerala-govt-issues-notification-for-rera-appointments/articleshow/66007913.cms
