Project Marketing is Valid only after Registration under RERA Act
Friday - July 7, 2017 4:36 am ,
Category : BHOPAL
Clear Directives of M.P. Real Estate Regulatory Authority
Bhopal: Real Estate Regulatory Act-2016 (RERA) has come into effect in state and the country from May 01, 2017. According to the RERA Act, online registration of real estate projects is mandatory under the RERA Authority. Projects proposed for construction in future or were incomplete as of April 30, 2017 will come under the ambit of Madhya Pradesh Real Estate Regulatory Authority. Registration of ongoing or incomplete projects before the Authority has been made mandatory till July 31.
According to the clarifications issued by the Government of India on June 12, online registration of project whether it is proposed, ongoing and incomplete is mandatory under the authority before marketing. Marketing without registration will be treated as invalid.
A legal action will be initiated against the concerned person for violation of RERA provisions, if online marketing of projects or in any other form is found before the registration. Informing about this M.P. Real Estate Regulatory Authority mentioned that it is proper for the consumers to verify before the booking that the project has been registered by the promoter or builder in RERA Authority. Project’s registration can also be checked by the registration number allotted by the RERA Authority after seeing the registration number in the project’s advertisement.-WTN
