PANAJI: Urban development secretary Sudhir Mahajan has been appointed as the regulatory authority for regulating real estate sector in the state.
According to the notification issued by the department of urban development, Mahajan, an Indian Administrative Service officer, has been designated under the Real Estate (Regulation and Development) Act 2016 as the regulatory authority until the establishment of Real Estate Regulatory Authority.
The RERA is currently being looked after by the urban development department, which is finalising rules in line with the central act. According to Section 85 of the act, rules are required to be notified by the Real Estate Regulatory Authority within three months of its formation.
The central act, which set in on May 1, aims at providing security to home buyers.
