RERA injects transparency in realty sector

The RERA has injected complete transparency in real estate sector, says Bihar Development Commissioner Vivek Kumar lauding the RERA. He was addressing the participants of a workshop held under the aegis of the CREDAI’s Bihar chapter and Patna Chapter of Builders’ Association and RERA-Bihar in connection with the Bihar RERA completing five years.

The Bihar RERA dispelled the myth that license raj would be introduced following establishment of the RERA, he said. Bihar RERA Chairman Navin Varma suggested formation of a committee to achieve greater coordination among the government departments, RERA and other stakeholders. The committee should find solution to the problems of the realty sector.

Responding to this, Vivek Kumar asked the RERA to send a proposal to the government. Various experts from realty sector noted that the Bihar RERA has been working well disposing of the applications for project registration within a month. Experts note that the RERA in Bihar injected transparency in realty sector and were reported to have commented that when it is going to take place in Telangana.