CHAPTER V - THE REAL ESTATE REGULATORY AUTHORITY

An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.

Section 32 - Functions of Authority for promotion of real estate sector

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The Authority shall in order to facilitate the growth and promotion of a healthy, transparent, efficient and competitive real estate sector make recommendations to the appropriate Government of the competent authority, as the case may be, on:-

(a) protection of interest of the allottees, promoter and real estate agent

(b) creation of a single window system for ensuring time bound project approvals and clearances for timely completion of the project

(c) creation of a transparent and robust grievance redressal mechanism against acts of omission and commission of competent authorities and their officials

(d) measures to encourage investment in the real estate sector including measures to increase financial assistance to affordable housing segment

(e) measures to encourage construction of environmentally sustainable and affordable housing, promoting standardization and use of appropriate construction materials, fixtures, fittings and construction techniques

(f) measures to encourage grading of projects on various parameters of development including grading of promoters

(g) measures to facilitate amicable conciliation of disputes between the promoters and the allottees through dispute settlement forums set up by the consumer or promoter associations

(h) measures to facilitate digitization of land records and system towards conclusive property titles with title guarantee

(i) to render advice to the appropriate Government in matters relating to the development of real estate sector

(j) any other issue that the Authority may think necessary for the promotion of the real estate sector

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