Extension to register ongoing projects under RERA

Virtually rejecting CREDAI's request for an extension till April for on-going real estate projects to register with Real Estate Regulatory Authority (RERA), CM Manohar Parrikar said February 24 would be the last day for developers and builders to register their under-construction real estate projects. He added that builders and real estate agents had ample time to prepare for the registration process. "We have launched the website and our 90-day period ends on February 24th. I don't guarantee any extension beyond that," Parrikar said while formally launching the Goa RERA website. CREDAI had asked the government to provide a period of 90 days from the launch of the RERA registration portal for builders and real estate agents to register. As per government data, four real estate projects have been registered while 10 applications for registration have been received by RERA. "All changes and requests have been incorporated. There are a few more suggestions but those are linked to the Act which we cannot change. If we find them to be proper, we will take it up with the Centre," Parrikar said. The CM accepted that Goa had been slow in the implementing RERA, which in turn had stalled real estate projects and hampered revenue collections for the government. "We were delayed a bit but still, we are now fully prepared to take applications. If there are some problems then we will decide on it, closer to the final date. We will see if really any difficulty exists," Parrikar said. He added that the implementation of the Real Estate (Regulation and Development) Act, 2016 would end "speculative trading" in real estate while also eliminating "fly-by-night operators" in the real estate market. The ministry of urban development, along with RERA, expects around 500 registrations to be filed through the online portal. Customers can also file complaints against builders or real estate agents under RERA. "If the project is not registered, there is the law to take action. Builders got enough time to study the Act. From August till today, they knew everything. Any assistance needed will be given," Parrikar said.