Besides developers and buyers, Real Estate Agents Should Also Be Registered Under KRERA
Kerala RERA Chairman P H Kurian in Kochi on Friday directs all the builders in the state to register all the new real estate projects, which includes those who have not received the Occupancy Certificate, should also be registered with KRERA.
He further added that the full bench of the authority will start working from next month and the website will be live and then allowing the developers to register their projects and buyers to register their complaints.
The authority is trying to bring transparency to real estate projects in Kerala. The developers should register the projects along with registration documents, Coastal Regulation Zone (CRZ), and environmental clearances. The suggestions are given to the customers and the project that is scheduled. Without registration, no developer will be permitted to launch or advertise his projects in the state, and those who missed doing that will be penalized up to 10% of the project cost.
Besides developers and the buyers, all the real estate agents will also be registered with KRERA. Buyers could register a complaint with Rs 1,000 fee as specified by Kerala Govt. The fee for registering a complaint should be paid as demand draft payable to KRERA at Thiruvananthapuram and the required forms are available at rera.kerala.gov.in.
Kurian further stated that the compensation appeal would be heard by an adjudicating officer, who will be designated by next month. Complaints, that are not satisfied with the orders of the Authority could approach the Real Estate Appellate Tribunal. Further, they can move to the High Court.
The developers could also register complaints against the buyers who miss making contractual obligations just like the buyers, said Kurian. To make consciousness among the people, KRERA will arrange awareness programs across the state, in the weeks to come. There will be separate programs for buyers and developers.
Recent Updates on KRERA:
In May 2019, the state government had issued a notice for the placement of chairperson and members of the proposed Rera two years after RERA Act 2016 came into effect. Rera Act, which was passed by the parliament to present administration in the realty sector, became effective in May 2016. The Kerala govt is expected to announce real estate regulatory authority (RERA) not long after the declaration of election results.
In October 2019, Kerala Govt Gets Approval To Constitute RERA In State. The Kerala government has got the advocate general’s approval to form the Real Estate Regulatory Authority (RERA) in the state with Former Revenue and Housing Additional Chief Secretary P H Kurien as chairperson.
