DDA vice-chairman becomes real estate regulator for Delhi

DDA vice-chairman becomes real estate regulator for Delhi

NEW DELHI: Urban development ministry kicked up a controversy appointing vice-chairman of Delhi Development Authority (DDA) as Regulatory Authority for real estate sector for Delhi.

The decision has surprised many as DDA is also a developer for real estate projects and falls in the category promoter as per definition laid down in the Real Estate Regulation Act.

The central law empowers the appropriate government to designate any officer as regulatory authority till a full-fledged regulatory authority is established for the purposes of the Act, which includes grievance redressal in respect of projects registered with such authorities.

Registration of real projects will begin only after notification of Section 3 of the Real Estate Act by the Ministry of Housing & Urban Poverty Alleviation, which will be done in due course. The full Act is to come into force from May 1 next year.

Source: Times of India
Dated: 23rd November 2016

Category : MPD-2021 News

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