Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Meghalaya's Real Estate Regulatory Authority (RERA) has begun actively overseeing registration of all real estate projects, developers, and agents in the state. Located at the Urban Affairs Complex in Shillong, the RERA office serves as the central hub for enforcing the Real Estate (Regulation and Development) Act, 2016. The Act mandates transparent project disclosures, dedicated escrow accounts for buyer funds, and accountability for timely project delivery. With a full-time chairman and two members, the Authority has urged all stakeholders to comply or face penalties. This move aims to protect homebuyers, streamline dispute resolution, and promote greater professionalism in Meghalaya's growing property market.
The Real Estate Regulatory Authority (RERA) in Meghalaya has recently begun actively overseeing the registration of all real estate projects, their promoters, and agents operating within the state. The RERA office is centrally situated at the Urban Affairs Complex in Kharmalki, Shillong, serving as the hub for this regulatory initiative. Advertisement
The broader Real Estate (Regulation and Development) Act, 2016, under which Meghalaya's RERA functions, was enacted across India to usher in a new era of consumer protection and market discipline. Its fundamental objectives include mandating stringent disclosures of project details, ensuring that 70 percent of funds collected from homebuyers are deposited into a dedicated escrow account for project-specific construction, and holding developers accountable for timely delivery and quality standards. The Act also provides a vital mechanism for swift dispute resolution, aiming to foster greater confidence among homebuyers and elevate professionalism within the industry nationwide.
As an independent statutory body, Meghalaya's RERA operates with a full-time chairman and two members, tasked with ensuring strict adherence to the Act's provisions and rules. The Authority has strongly urged all promoters, developers, and real estate agents operating within Meghalaya to register themselves and their projects as legally required. Failure to comply with these registration mandates will invite penalties and regulatory actions as stipulated under the Act, emphasizing the stringent nature of this new regulatory landscape.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
