Meghalaya govt sets up real estate regulatory authority under 'Rera Act'

The Meghalaya government has notified the Real Estate Regulatory Authority to regulate the state's emerging real estate sector and ensure transparency, accountability, and consumer protection, officials said on Saturday.

The Authority is being established under the Real Estate (Regulation and Development) Act, 2016.

Officials said the authority aims to promote fair practices, protect homebuyers' interests, resolve disputes efficiently, and boost investor confidence by streamlining project approvals and enforcing compliance.

RERA Meghalaya oversees the registration of real estate projects, promoters, and agents, and ensures adherence to the provisions of the Act and rules framed thereunder.

It also includes an adjudication mechanism for timely dispute resolution and regulatory oversight.

The Authority functions as an independent statutory body with a full-time chairman and two members.

RERA Meghalaya has urged all developers, promoters, and real estate agents operating in the state to register themselves and their projects, calling it not just a legal mandate but also vital for building trust and credibility in the sector.

Non-compliance may invite penalties and regulatory action under the Act, it warned.