Delhi Home Buyer’s Relief As The City Gets Real Estate Regulator (Full-Time) For The First Time

Earlier in Delhi, the capital city had no full-time regulator for investigating and evaluating the real estate projects of Delhi. However, last week, following this RERA ACT, full-time regulators for Delhi has been appointed. Vijay S Madan who is a retired officer of civil services in the country has been appointed in the post,and it is done by Lt Governor Anil Baijal.

Before this, the vice-chairman of DDA or Delhi Development Authority used to hold to position of the interim regulator as per RERA Act, 2016.

The city has already been notified with the provisions set by RERA for the protection of the interest of the home buyers in the city.

Housing And Urban Affairs Ministry arranged a workshop and in that Mr.Baijal while talking about RERA also commented that he is very proud and glad to let the people of the city and the ministry know that he has appointed a fulltime regulator for the city’s real estate projects.

As per the notification provided by the Government of Delhi, Mr. Madan used to be the director general of the AADHAR Department or to be specific in the Unique Identification Authority of India. He is now the chair-holder of the Regulatory authority for Real Estate Property in Delhi for the next five years.

Apart from Mr. Madan, Gyan Prakash Srivastava along with Ramesh Chandra has been appointed as Regulatory Authority’s members.

RERA Act was made to safeguard the interest of the home buyers,and the Parliament implemented the Act and provided powers to the state to appoint required people in the regulatory authority and come up with required rules and regulations and notifications.