Himachal Pradesh to table RERA in monsoon session
The HP government has framed HP Real Estate (Regulation and Development) (General) Rules, 2017 that will come into force on the date of their publication in the official gazette.
Jun 29, 2017
Source : Toi
 
SHIMLA: Himachal Pradesh will notify the rules for the implementation of the Real Estate (Regulation and Development) Act, 2016, or RERA which aims to protect home buyers and encourage genuine private players after the amendment in HP Town and Country Panning Act in the coming monsoon session. State urban development, town and country planning minister Sudhir Sharma said that draft rules have already been prepared and will be placed in the assembly during the monsoon session for approval. Several states have already notified the rules though.
 
The HP government has framed HP Real Estate (Regulation and Development) (General) Rules, 2017 that will come into force on the date of their publication in the official gazette. As per the draft rules, there is a proposal to have Real Estate Regulatory Authority and Real Estate Appellate Tribunal.
There is also proposal for the registration of real estate project by the promoters besides real estate agents would also have to register. It has been proposed that the real estate agent shall maintain and preserve its books of account, records and documents in accordance with the provisions of the Income Tax Act, 1961 (43 of 1961), as amended from time to time, and the rules made there under.
 
 
It has also been proposed that the real estate agent shall provide assistance to enable the allottee and promoter to exercise their respective rights and fulfil their obligations at the time of booking and sale of any plot, apartment or building.
 
 
All registered promoters would have to furnish on the website details of their enterprise, background, work experience, track record, number of years of experience of the promoter or parent entity along with details of litigation in the past five years in relation to the real estate projects developed or being developed by the promoter.
 
 
The authority shall maintain a database and ensure the information specified therein shall be made available on its website in respect of each project revoked or penalised.
 

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