Kerala CM launches K-RERA in the State
By : Legal Era
Update: 2020-01-03 09:16 GMT
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[ by Kavita Krishnan ]Kerala Chief Minister Pinnarayi Vijayan launched the Kerala Real Estate Regulatory Authority (K-RERA) in the state to boost the confidence of customers and to ensure transparency in the real estate sector.According to the Chief Minister, a few greedy developers who indulge in illegal ways to mint money spoil the entire market. He also added that with RERA in place,...
Kerala Chief Minister Pinnarayi Vijayan launched the Kerala Real Estate Regulatory Authority (K-RERA) in the state to boost the confidence of customers and to ensure transparency in the real estate sector.
According to the Chief Minister, a few greedy developers who indulge in illegal ways to mint money spoil the entire market. He also added that with RERA in place, there will be more transparency and credibility. It will also help to redefine the promoter-buyer relationship in the sector.
He further added that with an effective regulatory mechanism, the real estate sector is poised to grow more instilling confidence in home buyers.
The Real Estate (Regulation and Development) Act, 2016 directs the State Governments to establish RERA for effective regulation of the real estate sector and also for speedy dispute redressal.