Functions of the RERA Authority

The motive behind the introduction of the RERA Act, 2016 was to ensure greater transparency, speedy dispute redressal and infuse capital into the real estate sector. Therefore, everyone playing a role in this matter is given with some roles and responsibilities to fulfill the ultimate objective.

Section 34 of the RERA Act, 2016 defines the functions of the RERA Authority which it needs to follow:
1. Firstly the authority must register the project and real estate agents with it. Consequently, it must regulate the registered projects with it.
2. For public viewing, the authority has to publish and maintain a website of records of all the real estate projects with the relevant details which need to be furnished.
3. For public viewing, the authority must maintain a database on its website with the names and photographs of promoters as defaulters including the details of the project or any imposed penalty thereon.
4. For public viewing, the authority must maintain a database on its website with the names and photographs of real estate agents who have applied and registered under this act.
5. The fixation of standard fees to be paid by the promoter, agents or allottees, through regulations according to the jurisdiction.
6. It must ensure that the obligations of the promoters, agents or allottees are duly complied with according to the act.
7. The authority must look that the directions, orders, or regulations issued by it are duly complied too by the relevant parties.
8. It must ensure that all the other functions given to it by the appropriate Government to carry out the necessary provisions of this act are duly performed by it.

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Tags: Government, obligations of the promoters, website, projects.