SRINAGAR: In a significant move, the Jammu and Kashmir government has instructed officers to register all real estate projects with the Real Estate Regulatory Authority (RERA).
Jammu Kashmir Housing and Urban Development Department has directed all administrative secretaries, heads of departments, managing directors of public sector undertakings, and corporations to register all real estate projects, both new and ongoing, with the Jammu and Kashmir Real Estate Authority (RERA) before commencing any work, in accordance with the Jammu Kashmir Real Estate (Regulation and Development) Rules, 2020.
This directive comes following the commencement of RERA’s operations in JK. RERA began functioning on January 18, 2024, following the appointment of Satish Chandra, a former IAS officer, as its head.
The Real Estate Regulatory Authority (RERA) has been established in JK to regulate the real estate sector and resolve disputes primarily between homebuyers and developers. It operates under the Real Estate (Regulation and Development) Act, a law passed by Parliament in 2016 to address the concerns and grievances of real estate developers, homebuyers, and other stakeholders.
Several other states and union territories (UTs) have also established RERAs. (KNO)
