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Builders allowed to advertise, sell ongoing projects till July 31

NEW DELHI: Builders are allowed to advertise and sell their ongoing projects during the three-month period they have been allowed for registration of their projects with respective realty regulatory authorities, officials of different states clarified on Thursday.

A panel comprising Anthony De Sa, chairman RERA & former chief secretary, Madhya Pradesh; Vini Mahajan, additional secretary, housing urban development, Punjab and Dilbag Singh Sihag, RERA Haryana committee & former chief town planner of Haryana, voiced their opinion that their respective states and the RERA rules formed by the centre allows developers to sell their ongoing projects till July 31.

The officials were speaking at a conference on real estate regulation rules organised by industry body FICCI here.

All the real estate projects and property agents have to be registered with regulatory authorities within the three months of the enforcement of the Real Estate (Regulation and Development) Act, 2016, i.e May 1, 2017.

Rajiv Ranjan Mishra, joint secretary, ministry of housing and urban poverty alleviation, warned that in case the builders fail to register their projects by July 31, all their projects will become unauthorised.

Speaking on the dilution of the central rules by various states, Mishra said, "Certain things are fundamental to the Act. If these fundamentals are changed, the states will be putting themselves for legal scrutiny."

Source : ET Realty

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