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regular-article-logo Thursday, 18 July 2024

Bengal government slashes the size of residential development to come under RERA

State housing department notifies that projects coming up on plot not exceeding 200 square metres and six apartments would be exempt from obtaining registration

Our Special Correspondent Calcutta Published 08.06.23, 05:26 AM
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The Bengal government has slashed the size of residential development to come under Real Estate Regulatory Authority (RERA), bringing a large pool of small-sized projects within the ambit of the buyer-friendly law.

Notification issued by the state housing department said projects coming up on a plot not exceeding 200 square metres (about three cottahs) and six apartments would be exempt from obtaining registration under Real Estate (Regulation & Development) Act, 2016.

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Previously, projects coming up under 500 square meters (about 7.5 cottahs) and up to 8 apartments were exempted from obtaining registration from the RERA, which aims to protect buyers from malpractices in the real estate sector.

With this change in rules which comes with immediate effect, the vast majority of projects being taken up in the unorganised sector, which are often found to be wanting in construction quality and transparent dealing with buyers, would now be under the Act.

Reputable builders, who usually prefer to take up large projects that fall under Rera, were understandably happy with the government’s decision.

“This is a welcome move. It is good for the customer. We have often seen how they are often cheated by small-time developers who take up projects to make a quick buck and bring a bad name to the entire industry,” Sushil Mohta, president of Credai, West Bengal, said.

Projects that would now come under the ambit of RERA can not be launched before receiving certification from the authority. A project must be compliant under various provisions of the Act.

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