Six Northeastern states Nagaland, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, and Sikkim have finally agreed to implement Real Estate Regulation Act, RERA.
This decision will pave the way for protecting the interest of home-buyers in these states.
The development comes after a team of the Union Housing and Urban Affairs Ministry visited the northeastern states and discussed the issues coming in the way of notifying the Act. The six states had failed to notify RERA due to land and other issues.
The Act, which provides proper protection to home buyers, was enacted by the Parliament in 2016.
The states were given powers to notify their respective rules and appoint regulatory authorities.
All states and Union Territories in the country had notified the rules under RERA, except the six northeastern states and West Bengal.
The Act is not applicable in Jammu and Kashmir.