Jammu and Kashmir Development Organizations Fail to Register Projects in Line with Real Estate Rules
Even after the formal establishment of the Jammu and Kashmir Real Estate Regulatory Authority more than 10 months ago, several development organizations, including the Jammu Development Authority (JDA) and the Srinagar Development Authority (SDA), have not registered their ongoing and new projects as per the J&K Real Estate Regulation and Development Rules, 2020. Furthermore, private developers are also disregarding the legislation, highlighting the need for stricter actions by the Authority to ensure compliance.
Appointment of Chairperson
According to a recent notification issued by the Housing and Urban Development Department on January 8, 2024, Satish Chandra, a retired IAS officer, was appointed as the Chairperson of the J&K Real Estate Regulatory Authority. The Authority started functioning effectively from January 18, 2024.
Urgent Need for Registration
In a circular dated February 2, 2024, the Housing and Urban Development Department emphasized the importance of registering and obtaining approval for all new and ongoing real estate projects with the J&K Real Estate Regulatory Authority. In a subsequent communication on February 14, 2024, the department requested all administrative secretaries, department heads, and managing directors of public sector undertakings and corporations to ensure the registration of their real estate projects.
However, numerous government agencies involved in real estate development have not yet complied with these communications. Surprisingly, both the Jammu Development Authority and the Srinagar Development Authority, which fall under the administrative control of the Housing and Urban Development Department, have not taken any steps to register their ongoing projects with the J&K RERA, thereby disregarding the directives from the Administrative Secretary.
Non-Compliance of Jammu Development Authority
Even as a government entity, the Jammu Development Authority has not registered several ongoing projects with the J&K RERA. Projects such as flatted accommodations at Muthi Phase-II, the commercial complex at Muthi, Kot Bhalwal Housing Colony, Birpur, and Gol Gujral Housing Colonies remain unregistered. This unauthorized state is concerning, as the Authority should be leading by example in adhering to the Act and Rules.
Registration Lapses in Srinagar
The Shehjar Apartments in the Bemina area of Srinagar and the Satellite Township at Rakh-Gund-Aksha, also located in Bemina, are among several other projects of the Srinagar Development Authority that are yet to be registered with the J&K RERA. Despite conducting several awareness programs emphasizing the mandatory requirement of project registration, the Authority has not taken appropriate action against violations in various real estate projects. Similar situations can be observed with other government agencies involved in real estate development.
The Importance of Compliance
Complying with real estate rules and regulations is crucial to protect the interests of homebuyers and promote transparent, accountable, and fair practices in the real estate sector. The efforts of the J&K Real Estate Regulatory Authority can only be effective if all stakeholders, whether government entities or private developers, actively participate and ensure the registration and compliance of their projects. It is high time for the JDA, SDA, and other concerned agencies to prioritize the registration of ongoing and new real estate projects to demonstrate their commitment to promoting a well-regulated and trustworthy real estate market in Jammu and Kashmir. Failure to comply with regulations could lead to serious consequences for all parties involved.
