The Real Estate (Regulation and Development) Act, 2016 came into force on May 01, 2016 to protect home-buyers and to boost the real estate industry. RERA Act plays a pivotal role in dissolving the conflicts between the developer and home-buyer. Home-buyers of Gurugram who were striving for some stringent regulations will now breathe easier after Haryana’s Chief Minister, Manohar Lal Khattar announced the opening of RERA Regularity Office in Gurugram.
The office under the Real Estate (Regulation and Development) Act (RERA) will have a managing authority comprising of 3 persons: one chairperson each and 2 members. The chairperson should have a professional experience of at least 20 years and the members should have a professional experience of at least 15 years in Urban Housing Development, Real Estate Development, Economics, Planning, and Law, etc.,
The major percentage of real estate developments in Delhi NCR takes place in Gurugram which makes the set up of the H-RERA office quintessential for the home-buyers and the developers. The temporary office will be operational from February 01 in the Public Works Department (PWD) Guest House on Old Railway Road and later the permanent office will take its place in Sector 44.
With increasing number of developments in Gurugram, the buyers are seeking for this redressal authority since a very long time and at last, their search for the Holy Grail has come to an end with the recent announcement made by the Chief Minister. The office will also have a prosecution wing headed by a high-ranking official or an advocate general.
The Act is mandatory for all residential and commercial real estate developments where the land area is more than 500 Square Meters. And any developer or builder not following the Regulatory Rules for the RERA Registration will face strict actions as “Ignorantia juris non excusat”.
