By Staff Reporter
The Delhi-Real Estate Regulatory Authority (RERA) has taken significant steps to ensure transparency and accountability in the real estate sector. According to RERA Chairman Anand Kumar, all real estate projects, both in planned and unplanned areas of Delhi, fall under the purview of RERA and must be duly registered under the Act.
One of the critical aspects highlighted by Chairman Anand Kumar is that real estate agents cannot conduct their business operations from residential addresses. Instead, they are required to maintain commercial offices, for which property tax has been paid. This measure aims to streamline the functioning of real estate agents and foster an environment of professionalism.
Speaking at a real estate conference organized by industry body Assocham in the capital, Chairman Kumar stressed the importance of building trust among the public. He called upon developers, builders, and collaborators to work transparently and adhere to the rules while delivering on their promises to customers. He urged potential property buyers to verify the registration status of any land, plot, flat, or commercial property by checking the RERA website.
Chairman Kumar also issued a warning against registering in “land pooling” and “farmhouse policy” projects, advising the public to avoid falling into potential traps.
To combat unauthorized property sales, Chairman Kumar cautioned builders and developers against promoting projects without RERA registration. He asserted that strict actions would be taken against those spreading false narratives to sell flats or shops. RERA will not grant any relaxation in this regard and aims to uphold consumer protection.
In line with RERA regulations, Chairman Kumar clarified that plots exceeding 500 square meters and projects with more than eight units, including shops, flats, apartments, or commercial spaces, are mandatory to be registered under RERA. This requirement is in place to safeguard the interests of property buyers and ensure compliance with regulatory standards.
The initiatives undertaken by the Delhi-RERA aim to instill confidence among consumers by promoting transparency and accountability in the real estate market. By enforcing the necessity for real estate agents to operate from commercial addresses and emphasizing RERA registration for projects, the authority seeks to create a fair and trustworthy environment for all stakeholders involved in property transactions.