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Hyderabad News.Hyderabad RERA Update. RERA set to take tiume, to start operations


(Excl Ventures News.)The much sought after Real Estate Regulation Authority (RERA), the realty watchdog, is likely to take some more time for commencing full-fledged operations.
BR> Steps have so far been not initiated for putting in place the regulatory authority and the tribunal more than a fortnight after the government has formally notified the constitution of the authority. Officials of the Municipal Administration Department are said to have worked out a model wherein the Municipal Administration Secretary would be entrusted with the responsibility to discharge the functions of the authority till such time the full body is put in place.
The decision comes in the light of the stipulations made in the regulations - the Telangana State Real Estate (Regulation and Development) Rules, 2017 - issued on July 31 - making it mandatory to constitute a selection committee consisting of the High Court Chief Justice or his nominee, Housing Department Secretary and the Law Secretary. The committee, once constituted, would choose experts in urban development, housing, real estate development, infrastructure, economics, technical experts from relevant fields, planning, law, commerce, accountancy, industry, management, social service, public affairs or administration for holding the posts of the chairman and at least two whole time members. The panel could constitute a search committee, if need be, to identify the candidates with necessary qualifications like holding an additional secretary rank post in the Central Government or an equivalent post in the State services for the post of the chairman and secretary-rank official in the State Government as members. Since this would be a long drawn process, the department had decided to ensure that the Municipal Administration Secretary holds the charge.
BR> Sources said a file in this regard had been sent to Chief Minister K. Chandrasekhar Rao for his nod / assent, but has not been cleared so far.
BR> “The Real Estate Authority would start receiving applications for registration once the Chief Minister gives his consent. We are hopeful that the file will be signed soon,” a senior official said
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