Last Updated on May 26, 2022 at 4:12 pm
Jammu and Kashmir government have still not managed to appoint chairperson and members of the Real Estate Regulatory Authority (RERA) even after several months have passed. As well as no priority is given to set up Real Estate Appellate Tribunal that is essential for promotion of this sector.
In order to have transparent system and regulation of real estate sector projects Parliament in the year 2016 enacted the Real Estate (Regulation and Development) Act.
There are provisions in the Act as well as in the Rules for establishment of Real Estate Regulatory Authority and this aspect received the attention of the Government of Union Territory of Jammu and Kashmir on February 12, 2021 when the Housing and Urban Development Department issued an advertisement notice for the appointment of Chairperson and Members of Real Estate Regulatory Authority, as per Daily Excelsior.
Several applications were received by the Housing and Urban Development Department for the post of Chairperson as well as Members. But process has still not reached the completion stage till date despite lapse of more than one year. Even the selection committee met many times and examined the applications but no final decision was taken. In the month of April 2021, the Housing and Urban Development Department had also initiated the exercise for establishment of Real Estate Appellate Tribunal as per the provisions of the Act and Rules but this has exercise too has remained incomplete