Section 85 of RERA : Section 85: Power To Make Regulations

Explanation using Example

Imagine a scenario where the Real Estate Regulatory Authority (RERA) has been recently established in a region to ensure the regulation and promotion of the real estate sector. The Authority is now tasked with creating specific regulations in line with The Real Estate (Regulation and Development) Act, 2016.

Within three months, the Authority announces new regulations that include:

• Requirements for developers to submit detailed quarterly updates on their projects, which is related to the information and documents specified under clause (f) of sub-section (1) of section 11 of the Act.
• A mandate that all approved project plans and layouts, along with the specifications approved by the competent authority, must be displayed at the construction site for public viewing, addressing clause (a) of sub-section (3) of section 11.
• Guidelines for maintaining a comprehensive database of all real estate projects, as per sub-section (6) of section 11, which includes details such as the number of units sold, construction progress, and government approvals.
• Procedures for scheduling and conducting the regular meetings of the Authority, ensuring transparency and accountability, as mentioned under sub-section (1) of section 29.
• A schedule of standard fees that developers, buyers, and real estate agents must pay to the Authority for its services, as per clause (e) of section 34.

These regulations aim to enhance the accountability of developers, protect homebuyers, and establish clear processes for the functioning of the Authority, thus ensuring the smooth and fair operation of the real estate sector in the region.