RERA has ensured transparency in real estate sector in Bihar: Government

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RERA has ensured transparency in real estate sector in Bihar: GovernmentPATNA: State development commissioner Vivek Kumar Singh on Friday said the Real Estate Regulatory Authority (RERA), Bihar has ushered in transparency in the real estate sector.

Addressing a workshop organised here to mark five years of implementation of Real Estate (Regulation and Development) Act in the state, Singh said RERA-Bihar has dispelled the fears that creation of the authority would lead to licence raj in the sector.

The workshop was organised by the Bihar chapter of Confederation of Real Estate Developers’ Association of India (CREDAI) and the Patna chapter of Builders’ Association of India (BAI) in association with RERA-Bihar.

The development commissioner was the chief guest at the event which also witnessed participation of RERA-Bihar chairman Naveen Verma, member Nupur Banerjee and office-bearers of CREDAI and BAI.

Verma said the purpose of organising such events was to assess the impact of the implementation of the Real Estate (Regulation and Development) Act on the real estate sector and undertake advocacy and awareness measures among stakeholders as mandated by the Act.

Verma suggested that for better coordination among government departments, RERA and other stakeholders for the development of the sector, a committee could be formed and it should address the issues concerning the real estate sector. The development commissioner said a recommendation should be sent by the RERA in this regard to the state government.

RERA member Nupur Banerjee spoke at length about use of technologies which would allow construction of environment-friendly buildings.

BAI national president Mani Kant and CREDAI Bihar chapter president Sachin Chandra complimented RERA for clearing the backlog of project registration applications.

“RERA-Bihar has adopted a very cooperative approach in addressing the problems of stakeholders. Disposal of project registration applications is now being done within one month, as stipulated by the Act,” said Mani Kant.

Chandra maintained to begin with, the promoters were apprehensive that establishment of the authority would lead to licence raj.

“The functioning of the authority has proved us wrong,” he added.

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