NAREDCO in News
 
Media Room
 
Industry News
 
Articles
 
National Realty e-Magazine
 

Industry News

Select a year 


JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember                Back

 
Real estate watchdog remains headless
Deccan Chronicle  |  December 7, 2017

Chennai

Realtors and customers who welcomed institution of Tamil Nadu Real Estate Regulatory Authority (TNRERA) hoping that it would make the industry more transparent are now disappointed as the state government is yet to appoint a full-time chairman and members. They rue that the lack of full-time chairman deters them from making their representations to the authority.

 

According to the Builders’ Association of India, they have many representations that have to be put forth before the authority’s chairman. “Now retired officials from CMDA are appointed in TNRERA. Owing to the lack of permanent chairman, we could not able to convey our problems,” association's secretary S. Ram Prabhu said.

 

Tamil Nadu was one of the few states that delayed ratifying the central government’s Real Estate (Regulation and Development) Act (Rera). Finally, when the rules and regulations for TNRera were drafted and inducted, the then Housing secretary Dharmendra Pratap Yadav made interim chairman and few retired officials from CMDA made its members on last June.

 

Now the new housing secretary S. Krishnan is additionally holding the posts of TNRERA chairman and CMDA vice-chairman.

 

“The central act has all parameters to make the industry transparent. But lack of designated chairman to TNRERA left the authority deprived of a proper monitoring mechanism. For instance, the TNRERA website, which should have included every detail of builders and projects remains unfinished. Now projects are only registered and no other works have been carried out,” Ram Prabhu added.

 

Meanwhile, the top officials from the housing department told Deccan Chronicle that the department has constituted a ion committee to appoint a chairman and members to TNRERA.

 

“The ion committee that consists of housing secretary, chief justice of the Madras high court and law secretary has met last week to the chairman and members for TNRERA and real estate appellate tribunal. The committee will cull out officers, soon,” the official said. It is learnt that a senior IAS official would be appointed as the TNRERA chairman.