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Gujarat's Real Estate Regulatory Authority (RERA) is embarking on the construction of a new office complex, RERA Bhavan, in Gandhinagar, to house both the RERA authority and the RERA tribunal. The authority intends to acquire a 3,500 square meter plot from the Gandhinagar Urban Development Authority (GUDA) for approximately INR 44 crore. Currently, GujRERA's office is located in Sahyog Sankul, Gandhinagar and the tribunal is housed in Karmayogi Bhavan. The proposed consolidation under RERA Bhavan will help in streamlining operations for stakeholders.
The decision to establish RERA Bhavan comes after a planning phase of two years, and the land acquisition process is set to begin shortly. GUDA has allocated a plot near Sargasan for the purpose. The new complex is envisioned as a symbol of the RERA's association with the rapidly developing real estate sector in the state.
The Real Estate (Regulation and Development) Act, 2016, enacted by the Central government and enforced from May 1, 2017, mandated the creation of state-level bodies such as GujRERA for the regulation and promotion of the real estate sector. Currently, GujRERA's office is housed in Sahyog Sankul, which also accommodates district-level offices.
The proposed RERA Bhavan is expected to feature a unique design that reflects its connection with Gujarat's thriving real estate sector. By consolidating the authority and tribunal under one roof, the initiative aims to facilitate smoother interactions for stakeholders involved in the real estate ecosystem thereby enhancing its operational efficiency.
In addition to this development, GujRARA has extended the deadline for its Voluntary Compliance Scheme (VCS) until January 31. This extension provides defaulters with an opportunity to rectify any non-compliance issues within the stipulated time frame. The VCS is part of GujRERA's commitment to ensuring regulatory adherence within the real estate sector.
As Gujarat continues to witness growth in its real estate landscape, the establishment of RERA Bhavan underscores the commitment to regulatory transparency and efficiency. The move reflects the authorities' proactive approach in adapting to evolving needs and fostering a conducive environment for real estate stakeholders in the state.
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