All you need to know about Punjab RERA and its key achievements
- Wednesday 2nd June 2021
- Author: Riya Kapoor
Registration certificate are issued to promoters and to real estate agents. Their authenticity needs to be maintained, and to ensure this embossing of the Certificate with QR code (Machine readable optical label) has been introduced.
The Authority has introduced the provision of levy of late fee on promoters of ongoing projects who did not submit their application within 3 months of the commencement of the Act.
The Punjab Government notified the Real Estate (Regulation and Development) Rules, 2017 on 08/06/2017 vide Notification No. G.S.R -19/C.A.16/2016/Ss.2 and 84/2017. The Real Estate Regulatory Authority, Punjab was established on 10/08/2017 upon the joining of Chairperson with two full-time Members.
The purposes behind the promulgation of the Act are as follows:
- Regulation and promotion of the Real Estate sector
- To facilitate the growth and promotion of a healthy, transparent, efficient and competitive real estate sector
- Sale of plots, apartments etc. in a transparent and efficient manner
- To protect the interest of the consumers in the real estate sector
- To provide an adjudicating mechanism for speedy dispute redressal
- To publish and maintain a website of records for public viewing for real estate projects and agents which have been registered
- To provide online facility of registration of real estate projects, agents as well as filling of complaints by aggrieved persons
The Real Estate Regulatory Authority, Punjab strives to fulfill the above objectives in full measure, and will work to promote balanced development of the sector, keeping interests of all the stakeholders in mind.
Following are the key milestones achieved by RERA, Punjab :
6.1. Successful Web Portal
Under Section 4 (3) of the Real Estate (Regulation and Development) Act, 2016 every Authority shall operationalise a web based online system for submitting applications for registration of projects within a period of one year from the date of its establishment. The present Authority was established on 10.08.2017 and the web portal was made operational on 13.04.2018. It provides not only the facility for submitting online applications, but the entire processing of applications for registration of projects and all real estate agents is handled online. As far as the handling of complaints is concerned the filing and initial processing is online, but proceedings are carried out on paper file once the complaint is entrusted to a Member of the Authority or the Adjudicating Officer. This has been done since the actual file might be required by the Tribunal or the High Court during hearing of an appeal or Writ Petition against the order of the Authority/Adjudicating Officer. However, final orders are also uploaded on the Authority's website, and uploading of interim orders shall start shortly.
6.2. Better enforcement of provisions of the Act through pro-active measures under Section 59
Around 800 notices have been issued by the Authority seeking a response from builders who were liable to register their projects but had not submitted their application so far. Though some of these notices were initiated on the basis of specific complaints, a vast majority have been initiated suo-motu by the Authority. Lists of projects for which promoters had been granted licenses by various Competent Authorities in the State were obtained, as also list of projects out of the above in relation to which Completion Certificates had been issued. Notices were issued to the ones who did not have the Completion Certificate on the date of commencement of the Act. Proceedings under Section 59 of the Act were initiated, and this has had a salutary effect. Penalty has been imposed in about 50 cases so far.
6.3. Introduction of QR Codes in the Agent and Project Certificates for authentication
Registration certificate are issued to promoters and to real estate agents. Their authenticity needs to be maintained, and to ensure this embossing of the Certificate with QR code (Machine readable optical label) has been introduced. The information can be verified by consumers from the phone camera application. This will prevent any counterfeit certificates, and also tampering with the certificates once issued.
6.4. Application of late fee
The Authority has introduced the provision of levy of late fee on promoters of ongoing projects who did not submit their application within 3 months of the commencement of the Act. The existing Rules were silent about the time within which projects that are approved after commencement of the Act have to submit applications for registration. A period of 3 months has been prescribed for such projects also, and the Rules are being amended accordingly. The levy of late fee is also being incorporated in the Rules since the Appellate Tribunal had raised some issues about the Authority's competence to do so.
- RERA Agent Renewal in Maharashtra
- What is Title Verification and Search Report?
- Revocation under the RERA Act
- RERA Limitations
- Homebuyers right in case of insolvency
- Working of RERA after its enactment
- Legal Remedies if real estate project is stucked
- Rules governing Punjab RERA
- Best RERA Practices to be followed by Builders
- Legal rights transfer under RERA
Copyright © 2020 Rera Filing. All rights reserved.