In a significant development, the Bengal government has revised the regulations of the Real Estate Regulatory Authority (RERA), expanding its reach to encompass a larger pool of small-sized residential projects
According to a recent notification issued by the state housing department, projects on plots not exceeding 200 square meters and consisting of up to six apartments will now be subject to RERA registration, aligning with the buyer-friendly provisions of the Real Estate (Regulation & Development) Act, 2016.
Previously, only projects on plots up to 500 square meters and featuring up to eight apartments were exempt from RERA registration. This move aims to safeguard buyers from malpractices in the real estate sector, especially in the unorganized segment, where construction quality and transparent dealings with buyers have often been concerns.
Reputable builders, who generally undertake larger projects falling under RERA’s purview, have expressed their support for the government’s decision. Sushil Mohta, President of Credai, West Bengal, welcomed the move, stating that it would benefit customers and help curb fraudulent practices by small-time developers, ultimately enhancing the industry’s reputation.
Under the new regulations, projects falling within the ambit of RERA must obtain certification from the authority before they can be launched. Compliance with various provisions of the Act is mandatory for such projects, ensuring greater accountability and protection for homebuyers.
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