RERA Awareness Seminar Held to Promote Transparency in Real Estate
Jharkhand RERA Chairman Ajay Singh stresses effective implementation of the law; Bihar RERA chief shares experience
Ranchi, August 24: A seminar on the effective implementation and practical aspects of the Real Estate (Regulation and Development) Act, 2016 was organised by the Jharkhand Real Estate Regulatory Authority (JHARERA) at the Radisson Blu Hotel in Ranchi on Sunday.
JHARERA Chairman Ajay Singh said that the real estate sector in Jharkhand is still at an early stage of development and that proper understanding and effective implementation of RERA provisions are essential to make the sector more organised and transparent.
He said several aspects of the real estate sector, including building bye-laws, still require further work in the state. He added that the experience of Bihar RERA could provide valuable lessons for Jharkhand and help strengthen the regulatory system.
Bihar RERA Experience Shared
Bihar RERA Chairman Vivek Singh attended the seminar as the chief guest and shared his experience of implementing the law in Bihar.
He said awareness of RERA provisions helps stakeholders understand their rights and responsibilities and enables them to resolve practical and legal issues more effectively.
Experts discussed project registration, rights and duties of promoters and allottees, compliance procedures, financial management, grievance redressal and other regulatory provisions under the RERA Act.
Homebuyers Advised to Check Documents
JHARERA Legal Advisor Ranjit Chaudhary advised homebuyers to conduct proper due diligence before purchasing property.
He said buyers should check the project's RERA registration status, approved building plan, land-related documents and other essential papers before making an investment.
He stressed that awareness and proper verification of documents can help buyers make safer investments and avoid future disputes.
Interactive Session Addresses Stakeholders' Queries
During the interactive session, participants raised practical and legal questions related to the real estate business. Experts responded to their queries and explained the relevant provisions of the law.
Builders, promoters, developers, landowners, homebuyers, representatives of banks and financial institutions, accountants, engineers and advocates participated in the seminar.
The organisers said such programmes would help increase awareness about RERA and strengthen transparency and trust among homebuyers, developers and other stakeholders in Jharkhand's real estate sector.
