Kolkata: The Bengal government has set up the West Bengal Real Estate Regulatory Authority to ensure further growth in the real estate sector and better protection of consumers' rights.
The authority has been established in exercise of the powers conferred by the Real Estate (Regulation and Development) Act 2016 (RERA), according to the notification issued by the state Housing department.
At the same time the state government has notified the West Bengal Real Estate (Regulation and Development) Rules 2021 in accordance with which the new regulatory norms for the real estate sector will be implemented.
As per the gazette notification for the West Bengal Real Estate (Regulation and Development) Rules 2021 "any application letter, allotment letter or any other document signed by the allottee, in respect of the apartment, plot or building, prior to the execution and registration of the agreement for sale for such apartment, plot or building, as the case may be, shall not be construed to
limit the rights and interests of the allottee under the agreement for sale..."
The real estate developers also has to ensure that details of past or ongoing litigations in relation to the real estate project and authenticated copy of the approvals and commencement certificate from the competent authority along with the sanctioned plan, layout plan and specifications of the project and details of the registration granted by the authority has to be made available on its website in respect of
each registered project.
The location with clear demarcation of land dedicated for the project along with its boundaries including the latitude and longitude also has to be made available on the website.
Setting up of the regulatory authority has come as a major relief for buyers in case they have any grievances. The reason being the Supreme Court struck down West Bengal Housing Industry Regulation Act 2017 (WBHIRA) in view of the existence of RERA.
The WBHIRA was enacted in the similar line of
RERA.
The setting up of the West Bengal Real Estate Regulatory Authority will ensure swift redressals of grievances besides ensuring ease of doing business that will help in further growth in the state's real estate
sector.
The office of the West Bengal Real Estate Regulatory Authority will be situated at Calcutta Greens Commercial Complex near Survey Park in south
Kolkata.