{"id":56318,"date":"2019-10-15T11:36:01","date_gmt":"2019-10-15T06:36:01","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=56318"},"modified":"2020-02-21T17:03:58","modified_gmt":"2020-02-21T12:03:58","slug":"govt-approves-rera-formation","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-approves-rera-formation.html","title":{"rendered":"Govt approves RERA formation"},"content":{"rendered":"<p>Islamabad: The federal government on Monday approved the establishment of the Real Estate Regulatory Authority (RERA), according to news sources. Special Assistant to the Prime Minister (PM) on Information and Broadcasting Firdous Ashiq Awan told a press briefing that the government wanted to facilitate and regulate the real estate sector through the formation of this body.<\/p>\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/govt-establish-rera-settling-property-disputes.html\" target=\"_blank\" rel=\"noopener noreferrer\">Govt to establish RERA for settling property disputes<\/a><\/p>\n<p>As per reports, RERA has been empowered to:<\/p>\n<ul>\n<li>Oversee the business activities of all builders and developers<\/li>\n<li>Make registration a mandatory requirement for real estate agents operating countrywide<\/li>\n<li>Approve building\/society plans \u2013 developers will not be able to promote (conduct sales\/purchases of plots) their projects without the authority\u2019s approval<\/li>\n<li>Regulate and uphold the rights of property agents as well as housing project allottees<\/li>\n<\/ul>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/ise-reit-chairman-demands-a-separate-regulatory-authority-for-real-estate.html\" target=\"_blank\" rel=\"noopener noreferrer\">ISE REIT Chairman demands a separate regulatory authority for real estate<\/a><\/p>\n<p>Please note that stakeholders in the real estate sector have been calling for a <a href=\"https:\/\/www.zameen.com\/news\/real-estate-sector-demands-regulations-and-awareness.html\" target=\"_blank\" rel=\"noopener noreferrer\">regulatory body <\/a>to govern their affairs for quite some time.\u00a0Earlier in September, this regulatory authority was established through the approval of a special-purpose Real Estate Regulation &amp; Development Bill 2019. It would comprise of an appellate tribunal tasked with settling property disputes; under the supervision of a government-appointed chairperson.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government on Monday approved the establishment of the Real Estate Regulatory Authority (RERA), according to news sources. Special Assistant to the Prime Minister (PM) on Information and Broadcasting Firdous Ashiq Awan told a press briefing that the government wanted to facilitate and regulate the real estate sector through the formation of this body. Read: Govt to establish RERA for settling property disputes As per reports, RERA has been empowered to: Oversee the business activities of all builders and developers Make registration a mandatory requirement for real estate agents operating countrywide Approve building\/society plans \u2013 developers will not be able to promote (conduct sales\/purchases of plots) their projects without the authority\u2019s approval Regulate and uphold the rights of property agents as well as housing project allottees Read:\u00a0ISE REIT Chairman demands a separate regulatory authority for real estate Please note that stakeholders in the real estate sector have been calling for a regulatory body to govern their affairs for quite some time.\u00a0Earlier in September, this regulatory authority was established through the approval of a special-purpose Real Estate Regulation &amp; Development Bill 2019. It would comprise of an appellate tribunal tasked with settling property disputes; under the supervision of a&hellip;<\/p>\n","protected":false},"author":75,"featured_media":34938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20385],"tags":[13437],"persona":[],"class_list":{"0":"post-56318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-development-projects","8":"tag-details-on-govt-approves-rera-formation","9":"cat-20385-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt approves RERA formation - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government on Monday approved the establishment of the Real Estate Regulatory Authority (RERA), according to news sources. 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