HC Kishore Chandra, a retired DGP rank officer,has been appointed as the chairman of The Real Estate Regulatory Authority (RERA) of Karnataka .
The authority that was notified on July 10, 2017 has seen four interim and one permanent chiefs since inception.
“The term of the chairperson shall be for a period of five years from his assumption of office or till the age of sixty five years or until further order, which ever is earlier and he shall not be eligible for reappointment,” the government of Karnataka said in a recent notification.
The newly appointed chairman will take over from 1st June after superannuation of existing chairman M R Kamble and one member.
Chandra’s senior retired DGP Neelmani Raju was appointed as a member of the K-Rera. Recently, the state government transferred KRERA Secretary K S Lathakumari and appointed K Nagendraprasad IAS (Presently PS to Health & Medical Education Minister Sri. Sudhakar) ias Secretary, KRERA.
The Karnataka government notified Karnataka Real Estate (Regulation and Development) Rules-2017 in the state gazette in July last year with the setting up of Karnataka RERA.
The law was passed by Parliament in March 2016 to address the woes of millions of homebuyers and to ensure better governance in a sector that was hitherto unregulated. According to the RERA registration, Maharashtra has the highest share of registered projects under RERA, followed by Uttar Pradesh, Gujarat, Karnataka and Madhya Pradesh.