West Bengal’s newly established property regulator anticipates that all existing projects in the state would be registered under the Real Estate (Regulation & Development) Act, 2016 within three months, relieving buyer worries about completion timelines and quality.
Not-yet-completed projects promoted, advertised, and sold without Real Estate Regulatory Authority (Rera) licences are among those required registration with the West Bengal Rera.
The state regulatory chapter commenced operations around 18 months after the Supreme Court invalidated the state’s own law, the West Bengal Housing Industry Regulation Act of 2017. (WBHIRA). In February of 2014, the Supreme Court ordered the state to immediately adopt Rera.
“According to the guidelines set out by the WBRera authorities, within three months after the creation of the Rera authority in the state, all projects in the state that were previously promoted without licence and have yet to be finished must be registered.
2022 homeowners grouped under the name of the Forum for People’s Collective Efforts (FPCE) wrote to the chief minister in August, requesting that he intervene and deliver the required directives to make Rera and the Real Estate Appellate Tribunal operative under the central Act.
It had highlighted concerns around unregistered launches, extra money collecting, and “diversion.”
It is a positive beginning and will inspire trust in homebuyers. However, the web site is not yet operational, and a method for filing complaints online will assist homebuyers in the future, according to a worried individual.