The proposal to bring small real estate developers under the ambit of Rajasthan Real Estate (Regulation and Development) Act 2016 is unlikely to be implemented in the state with the UDH minister Shanti Dhariwal suggesting a feasibility study before implementing it.
RERA Rajasthan had proposed to lower the threshold limit for registration of projects from 500 square metres to 250 square metres and from eight units (flats) to four units.
However, sources in Urban Housing and Development (UDH) said amendments would be done after examination. “The move to bring small developers under the ambit of the Act can only be done after examining the ground reality. We will study the successful model of other states before implementation. At present, we are not considering the proposal.”
In a meeting held on August 9, RERA had decided that developers constructing more than 4 units (flats) in a building should also registered themselves with RERA.
Minutes of the meeting read that a major hurdle in the promotion of real estate sector was felt to be the fact that there was a large section of projects, which being on a land measuring less than 500 square metre or of less than eight units, do not require to be registered under the RERA Act.
However, the idea did not go well with developers who decided to hit the road against the decision. “RERA should cancel the minutes of the meeting. Our target customers are the middle income group and if so much fees are imposed on us, it would affect the buyers and demand would decrease resulting in loss of business,” said Ankur Tiwari, a realtor.
