Real Estate Regulatory Act Soon

KOCHI:
B G Harindranth, Law Secretary said that the State Government is likely to pass the Real Estate Regulatory Act (RERA) shortly.
Addressing a session on “RERA” at the CREDAI State Conference here today, he said that the legislation on this is in the pipeline and the political decision in this regard will be taken very soon.
Certainty of law is essential for the development of real estate sector in Kerala. It is better to go by the Central Act as the Act is already in existence, he added. The enactment of RERA will create a more transparent situation in this sector and is likely to protect the interests of the customers. There is a very serious concern about the various aspects of the proposed Law among the builders. The Government will seriously consider all the apprehensions raised by the builder community while preparing the Law.
Jayesh Kariya of KPMG was the moderator in this session. S. Krishna Kumar, President, CREDAI Thiruvanthapuram, Abdul Azeez, GC Member, CREDAI Kerala and Raghuchandran Nair, Vice President, CREDAI National also spoke on the occasion.