Failing to implement the Real Estate (Regulation & Development) Act (RERA), the state government of Goa has extended the deadline for RERA registration of ongoing real estate projects in the state.
According to the sources, the new deadline for project registration is 31st December, with no penalty levied till the time. Extending the registration time for the second time since the inception of the Act, the state government has failed to accomplish the so-called disciplinary rule for the realty market.
Santosh Gangwal, an aggrieved home buyer told the reports that the aim of the Central Government of protecting the interest of home buyers’ seems not working in Goa but still, we have some hope left. We believe that the government will help us to get out of this mess as soon as possible.
Citing the formulation of a strict Real Estate Regulatory Authority in the state, an official from the department of urban development, Goa, on the condition of hiding the identity told the reporters that the government is planning to implement the RERA within a month and will launch the Goa RERA website subsequently. RERA is a very critical matter and a slight manhandling in the implementation will lead to severe devastation in the real estate sector. We agree that there have been delays in implementing the rules but to avoid any hassles in the future the state government is considering suggestions from all the stakeholders, he added.
The Central government notified the RERA on 1st May 2016. Recently, the government of Goa extended the time to submit suggestions for RERA draft rules from real estate stakeholders to 11th September which was earlier 3rd September.
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