JAMMU: The Jammu & Kashmir Real Estate Regulatory Authority (JKRERA) today organised an awareness programme with real estate promoters and developers to spread awareness about the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA Act) and interact directly with stakeholders to understand their concerns and suggestions.
The programme was aimed at enhancing understanding of the roles, duties, and obligations of promoters and real estate agents under the Act, and encourage greater participation in the registration process of projects and agents.
It was explained that the objective of RERA is not only to regulate but also to promote and strengthen the real estate sector through transparency, accountability, and timely completion of projects.
Promoters were advised to register their projects and agents with JKRERA as mandated under the Act, and to ensure compliance with all statutory provisions, including financial discipline, escrow account maintenance, and quarterly disclosures on the RERA portal.
More than 20 promoters and developers from Jammu attended the programme. The authority patiently listened to their issues and suggestions, like a request for developing a single-window system for faster approval and registration of projects, clarifications regarding ongoing projects and the process of regularisation under RERA. Detailed discussions on registration procedures, requisite documents, and compliance obligations, roles, duties and responsibilities of promoters and real estate agents, and measures on how to increase registration and improve transparency in the real estate sector was also held.
A constructive dialogue was held on the way forward for improving coordination between the Authority and the developer community to ensure smooth implementation of RERA in Jammu & Kashmir.
Speaking at the event, the Deputy Secretary emphasised that JKRERA remains committed to fostering a transparent, fair, and growth-oriented real estate environment in the Union Territory.
The Deputy Secretary said that regular interactions and awareness programmes will continue to ensure that all stakeholders, promoters, agents, and homebuyers benefit from the safeguards and opportunities provided under the RERA framework.
